Nvidia is trading at an all-time high ahead of earnings

Markets Insider

• Nvidia is scheduled to report first-quarter earnings after Thursday's closing bell.
• Shares were up about 1% ahead of the release.
• Follow Nvidia's stock price in real-time here

Shares of Nvidia were up about 1% Thursday afternoon, and trading at a record high, ahead of its first-quarter earning report after the closing bell.

Analysts polled by Bloomberg expect the chipmaker to earn an adjusted $1.66 per share on revenue of $2.90 billion. Options contracts are implying a 7.2% move following the earnings report.

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Nvidia was one of the best-performing stocks n 2017, but this year has been much more volatile for the stock. As cryptocurrency prices dive, analysts are becoming increasingly worried that the surprise source of revenue for chipmakers like Nvidia and its competitor AMD could dry up, something that the rise of ASIC mining-specific computers are also threatening to do.

Ahead of earnings, millennial investors on the stock-trading app Robinhood were ditching the stock 3% faster than they were buying - a marked departure from the previous quarter.

Nvidia is up 27% so far in 2018, easily outpacing the benchmark S&P 500 index.

Check back here for Nvidia's first-quarter earnings report this afternoon.