Nvidia Corp. may be the top dog on Wall Street in terms of market value, but in the eyes of the 128-year-old Dow Jones Industrial Average, its stock is ranked well below average.

Nvidia reports earnings for the third quarter of fiscal 2025 on Nov. 20, making it a huge day for the market and the stock. However, stocks are known to rise or fall dramatically after earnings reports, so investors want to know, "Is Nvidia a buy before Nov. 20?"

The AI chip maker is benefiting from the marketwide upturn following the U.S. presidential election. TSMC's monthly sales report could offer further support.

Nvidia (NASDAQ:NVDA) stock never seems to go too long without experiencing a sustained rally higher. Undoubtedly, only time will tell if NVDA shares will retain the multi-bagger gains that investors have enjoyed in 2024.

The stock is trading at a record high but might still be cheap based on its potential future earnings. It will release its latest quarterly financial results on Nov. 20, and the company's own revenue forecast might be too conservative.

Also know that, unlike the S&P 500 or the Nasdaq Composite, the Dow is weighted by price rather than by market cap. Although Nvidia has an outsized influence on the movements of the cap-weighted benchmarks, at current prices NVDA stock will be as important to the DJIA as, roughly, 3M ( MMM ).

World’s most valuable company Overtakes Apple Most popular stock of 2024 As Nvidia’s stock market value hit $3.65 trillion on Thursday to make it the world’s most valuable company, so shares are in hot demand among retail investors in the Gulf.