Walmart and Analog Devices: The US Stocks to Watch This Week

Wall Street’s attention this week turns to two bellwether earnings reports that will offer fresh signals on the health of American consumers and the industrial chip cycle, even as investors keep one eye on next week’s blockbuster from Nvidia.

Analog Devices (ADI) updates the market on Wednesday, August 19, reporting fiscal third-quarter results before the opening bell.

Consensus estimates call for earnings per share of roughly $3.33. Investors will be watching closely for signs of recovery in industrial and automotive chip demand, a segment that has lagged the AI-driven boom enjoyed elsewhere in semiconductors.

A beat here could reinforce the view that the broader chip cycle is turning a corner beyond just data-center demand.

Walmart (WMT) follows Thursday, August 20, also reporting before the market opens, with EPS estimates near $0.73. With the Federal Reserve staying quiet on its next policy move, Walmart’s results will be scrutinized as a real-time gauge of consumer spending, inflation pressures, and tariff-related cost impacts heading into the back-to-school and holiday shopping season.

Retail peers Target and Home Depot are also due to report this week, making it a crucial stretch for reading the state of the American shopper.

Together, these two reports capture a key market theme right now: whether resilient consumer spending can offset jitters elsewhere, at a moment when nearly $4.6 billion exited technology funds last week amid AI-valuation concerns.

Nvidia, still the world’s most valuable company at roughly $5.4 trillion in market cap, doesn’t report until August 26 — but its shares will likely continue trading on anticipation and positioning throughout this week regardless.

For traders, the sequence is clear: industrial chip health first with Analog Devices, then consumer health with Walmart — both setting the tone before Nvidia’s results close out the month.