"Shares of NVIDIA Corp. (NASDAQ:NVDA) gained 3.07% over the past five trading sessions, bringing the stock's year-to-date gain to 30.42%. In July, the AI chipmaker became the first publicly traded company to hit a $4 trillion market cap in early July. 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. The stock reached an all-time high on the news."
"When NVIDIA reported Q2 earnings on Tuesday, Aug. 26, it beat on top and bottom lines, announcing EPS of $1.05 against $1.01 expected, and revenue of $46.74 billion against $46.06 billion estimated. As a result, the stock received numerous upward price target revisions. Bernstein ($225 from $185), Bank of America ($235 from $220), Citi ($210 from $190), JPMorgan ($215 from $170), KeyBanc ($230 from $215), Morgan Stanley ($210 from $206) and Oppenheimer ($225 from $200) all made bullish adjustments on NVIDIA."
NVIDIA's stock rose 3.07% over the past five trading sessions, producing a year-to-date gain of 30.42%. In July the company became the first publicly traded firm to reach a $4 trillion market capitalization, after surpassing Apple and Microsoft as members of the $3 trillion club. Q2 results beat expectations with EPS of $1.05 versus $1.01 and revenue of $46.74 billion versus $46.06 billion. Multiple firms raised price targets following the earnings report. NVIDIA manufactures semiconductors, microchips, and GPUs that drive AI growth. Shares gained 1,468.25% over five years and 453,125% since IPO, with analysts still expecting medium- and long-term upside.
Read at 24/7 Wall St.
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