"Stock market gains have been unleashed. Nvidia ( Nasdaq: NVDA) has carried the broader markets forward as investors had hoped. All three of the major stock market averages are off to the races on the heels of Nvidia's blockbuster Q3 earnings report. CEO Jensen Huang dispelled any rumors of an AI bubble, revealing that demand for the company's coveted chip processors are through the roof. In one fell swoop, technology single-handily became the tide that lifts all boats once again."
"Nvidia stock price target revisions are pouring in from Wall Street on the heels of the company's massive Q3 print. These include Evercore with a "buy" rating and $352 price target; Baird also with a "buy" and a $275 forecast; Barclays and Bernstein, both with "buy" ratings and $275 price targets attached. Citi with a $270 price target, BNP with a $260 price target and JPMorgan targeting $250 per share from $215."
Stock market gains were driven by Nvidia's blockbuster Q3 earnings, which pushed all three major U.S. indices higher. CEO Jensen Huang dispelled AI bubble concerns and said demand for Nvidia's chip processors is through the roof. Major Wall Street firms raised Nvidia price targets, including Evercore, Baird, Barclays, Bernstein, Citi, BNP and JPMorgan. Existing-home sales rose 1.7% year-over-year while housing inventories declined from September levels. Morning trading showed the Dow up 1.3%, the Nasdaq up 2.3% and the S&P 500 up 1.7%. Palantir rose after an AI partnership with the U.S. Army, and Walmart jumped following strong Q3 results.
Read at 24/7 Wall St.
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