Nvidia Corp.’s earnings are drawing nearer, and as another analyst shared upbeat feelings about the chip maker’s upcoming report, the stock drew to within 1% of its closing high.
“Given the pushout of [Advanced Micro Devices Inc’s] AMD, +2.63% MI300X, we believe Nvidia has been able to source increased [chip on wafer on substrate] capacity at Taiwan Semiconductor Manufacturing Co. TSM, +1.60%, ” Vinh said.Shares of Nvidia rallied 8.5% and closed at $469.67, near highs of the day, in Monday trading. That more than made up for three previous straight sessions of declines for a total loss of 1.5%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America Corp. stock rises Monday, still underperforms marketShares of Bank of America Corp. inched 0.14% higher to $29.15 Monday, on what proved to be an all-around mixed trading session for the stock market, with the...
Source: MarketWatch - 🏆 3. / 97 Read more »
Nvidia's stock looks to snap losing streak as earnings optimism buildsNvidia Corp.'s earnings are drawing nearer, and yet another analyst is feeling upbeat heading into the upcoming report.
Source: MarketWatch - 🏆 3. / 97 Read more »
This chip stock could yield a quick profit, depending on Nvidia's earnings, Morgan Stanley saysHow well Nvidia performs Wednesday could have implications for this derivative play, according to Morgan Stanley.
Source: CNBC - 🏆 12. / 72 Read more »
The AI Trade Faces Its First Major Test With Nvidia EarningsThe chip maker’s rosy forecast lifted markets in a turbulent time—but the bar to dazzle investors is higher now.
Source: WSJ - 🏆 98. / 63 Read more »
Here's the trade on Nvidia ahead of earnings, according to analystsAhead of earnings Wednesday, analysts are weighing in on the forthcoming report and how to trade the earnings.
Source: CNBC - 🏆 12. / 72 Read more »