"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. As a result, the stock received numerous upward price target revisions."
"Over the past few years, AI has consistently fueled the largest gains for the market. And one company in particular is at the vanguard: NVIDIA. The company is the premier manufacturer of components critical to the surge in AI; namely, semiconductors, microchips, and graphics processing units (GPUs). As a result, the Santa Clara, Calif.-based company has seen its stock skyrocket in the recent past. Over the past five years, shares have gained 1,285.29%, and since going public, NVIDIA's stock is up a preposterous 421,029%."
NVIDIA's shares were mostly flat over the past five trading sessions, contributing to a 27.70% year-to-date gain. The company reached a $4 trillion market capitalization in early July after surpassing Apple and Microsoft among $3 trillion peers, and the stock hit an all-time high. Q2 results beat expectations with EPS of $1.05 versus $1.01 and revenue of $46.74 billion versus $46.06 billion. Major firms revised price targets higher, including DA Davidson, Bernstein, Bank of America, Citi, JPMorgan, KeyBanc, Morgan Stanley, and Oppenheimer. NVIDIA supplies the GPUs and chips central to the AI surge, driving exceptional multi-year returns.
Read at 24/7 Wall St.
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