Nvidia's post-earnings gains may hinge on sales to China. Here's why

Nvidia's quarterly report after the bell Wednesday is the most anticipated of the earnings season. Yet, what the chipmaker says regarding graphic processing unit sales in China could have a bigger impact on how the stock trades. U.S. trade authorities approved about 10 Chinese companies as customers for Nvidia's second-most powerful H200 GPU chip, news agency Reuters reported on Thursday. No deliveries have been confirmed, and it's not clear whether the 10 firms have been cleared by Chinese trade authorities to make the purchases, though three internet companies in China were reportedly allowed to purchase the chips earlier this year . CEO Jensen Huang, who traveled last week to Beijing with President Donald Trump earlier this month, said Monday he believes the Chinese market will reopen to Nvidia after remarking last year that the company's Chinese market share had dropped to zero. "The Chinese government has to decide how much of their local market they want to protect," Huang said in an interview with Bloomberg News on Monday. …