economy
February 20, 2026
Here's the one market theme that could steal attention from Nvidia next week
It's another big week of earnings, including the market's most important stock.
TL;DR
- The market faces a significant week of earnings, with Nvidia's report being a major focus.
- A central theme is the disruption of the software sector by artificial intelligence, particularly AI agents that could reduce the need for traditional software seats.
- Geopolitical tensions involving Iran and President Trump's administration are expected to create market volatility, especially impacting oil prices.
- Key earnings reports include Home Depot, Workday, Nvidia, Salesforce, TJX, Qnity Electronics, CoreWeave, Dell Technologies, and Intuit.
- The potential impact of AI on companies like Workday, Salesforce, and Intuit is a significant concern for investors.
- Oil prices have spiked due to U.S.-Iran conflict, reaching six-month highs.
- Home Depot's earnings will be watched, with potential impacts from ICE arrests at its locations.
- Nvidia's performance is seen as critical for the tech sector, with potential for a "monster move" if the report is positive.
- Salesforce is struggling due to concerns that AI agents will diminish its business model.
- TJX is expected to report strong earnings due to ample close-out merchandise.
- Qnity Electronics, a semiconductor materials company, is expected to report good numbers but may need trimming due to its parabolic stock move.
- CoreWeave, a data center partner of Nvidia, is expected to perform well if Nvidia reports positively.
- Dell Technologies' earnings will be scrutinized, with concerns about memory prices impacting sales.
- Intuit faces challenges from AI agents that are perceived as superior to its software offerings, but its ingrained position in SMBs might ensure survival.
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