"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, NVIDIA became the first publicly traded company to surpass a market cap of $5 trillion."
"That achievement came just one month after surpassing both Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) in market cap as members of the $3 trillion market cap club. 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."
NVIDIA's stock experienced a short-term pullback but remains up about 31.99% year-to-date amid an AI-driven market rally. Q3 results delivered record revenue of $57.0 billion and diluted EPS of $1.30, with data-center revenue at $51.2 billion, a 66% year-over-year increase. The company crossed historic market-cap milestones, reaching $4 trillion and then $5 trillion within months. NVIDIA announced plans to invest up to $100 billion in OpenAI, prompting analysts to raise price targets and maintain bullish ratings. NVIDIA's GPUs and semiconductors remain central to AI growth, and analysts still see significant upside potential.
Read at 24/7 Wall St.
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