"Shares of NVIDIA Corp. (NASDAQ:NVDA) lost 2.08% over the past five trading sessions after gaining 1.13% the five prior. That brings the stock's year-to-date gain to nearly 31%. 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."
"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. From a financials perspective, the company has tailwinds."
"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. That resulted in a flurry of upward price target revisions this summer. DA Davidson upgraded NVIDIA to "Buy" from "Neutral" with a price target of $210, up from $195. Bernstein ($225 from $185), Bank of America ($235 from $220), Citi ($210 from $190), JPMorgan ($215 from $170), KeyBanc ($230 from $215),"
NVIDIA achieved historic market-cap milestones, becoming the first publicly traded company to reach $4 trillion and surpassing Apple and Microsoft earlier. Shares are up nearly 31% year-to-date and have risen more than 1,263% over five years. The company announced plans to invest up to $100 billion in OpenAI, prompting analyst price-target increases and maintained bullish ratings. NVIDIA beat Q2 expectations with EPS of $1.05 and revenue of $46.74 billion, triggering multiple upward price-target revisions from major banks and brokerages. NVIDIA remains central to AI growth through its semiconductors, microchips, and GPUs.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]