Trader bets over $20 million Nvidia stock will rise 30% by next earnings report By Investing.com

- A trader is betting $21 million on NVIDIA Corporation (NVDA) reporting strong financial results in its first quarter - Trader bought 10,000 June 1180 NVIDIA call options - The 1180 strike price represents a 32% upside from the current share price of about $890 - NVIDIA's sales forecast for 2024 is $109 billion, significantly higher than previous estimates - Needham & Company raised NVIDIA's price target to $850 and highlights supply constraints for new products - Company guiding a return to gross margin in the mid-70% range beyond the first quarter of 2025