"When the company reported Q3 earnings on Nov. 19, it beat on the top and bottom lines when it announced record revenue of $57.0 billion and diluted earnings per share (EPS) of $1.30, both of which exceeded analyst expectations. Data center revenue was the primary growth driver, reaching a record $51.2 billion, which marked a 66% year-over-year increase. The last week of October,"
"In September, the company announced plans to invest up to $100 billion in OpenAI. As a result, Evercore raised its price target on NVIDIA to $225 from $214 while keeping an "Outperform" rating, citing the OpenAI deal as the impetus, while Barclays raised its price target to $240 from $200, maintaining its "Overweight" rating. Over the past few years, AI has consistently fueled the largest gains for the market."
NVIDIA's shares fell more than 10% after an October peak, though they remain over 34% higher year-to-date. The company reported record Q3 revenue of $57.0 billion and diluted EPS of $1.30, with data-center revenue reaching $51.2 billion, up 66% year-over-year. NVIDIA achieved historic market-cap milestones, surpassing $4 trillion in July and $5 trillion in late October. The company announced plans in September to invest up to $100 billion in OpenAI, prompting bullish analyst price-target increases. NVIDIA is a leading supplier of semiconductors, microchips, and GPUs, fueling AI-driven market gains and massive multi-year stock appreciation.
Read at 24/7 Wall St.
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