The investing frenzy over artificial intelligence shows no sign of stopping after blowout earnings and guidance from Nvidia.
Nvidia stock was already up 222% so far this year by Wednesday’s close, but the group’s latest earnings propelled the shares another 5% higher in early Thursday trading to a record high. The market cap of Nvidia topped $1.2 trillion as of Thursday —a remarkable rise from the start of the year, when the company’s value was below $370 billion. Nvidia is closing in on Amazon’s $1.4 trillion value and Alphabet’s $1.7 trillion mark, though Apple , the world’s most valuable company with a market cap above $2.8 trillion, is further away.
Nvidia stock opened at $502 on Thursday and has an average target price among analysts surveyed by FactSet of $574.40, though that could rise because more brokers are likely to update their financial forecasts now that the earnings are out. This average price target implies a gain of almost 14% for Nvidia’s stock price, which would translate to its market cap climbing to around $1.42 billion.
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La source: MarketWatch - 🏆 3. / 97 Lire la suite »
La source: MarketWatch - 🏆 3. / 97 Lire la suite »