) stock surpassed $1,000 for the first time in extended trading on Wednesday after the chipmaker reported fiscal first-quarter results that exceeded analyst estimates. As with its several previous reports, the chipmaker received a flurry of bullish comments and price target increases after releasing the print, signaling more growth room for the AI darling.Over the past year or so, Nvidia's earnings report has become a key indicator of the AI boom's strength.
For the current quarter, Nvidia expects sales of $28 billion, plus or minus 2%, while Wall Street anticipated earnings per share of $5.95 on sales of $26.61 billion, according to LSEG. Despite the substantial growth, Huang indicated that the company's next-generation AI GPU, Blackwell, will drive further expansion.
“Our FY25e and FY26e forecasts remain unchanged along with our target price of USD1,350 based on an unchanged target PE of 30x.”: “In our view, the highlight of the call was that the Blackwell architecture is now in full-scale production and NVDA is expecting to ramp Blackwell in FY3Q with full-scale deployment by FY4Q ended January. In addition, NVDA is also seeing very strong demand for its Hopper architecture with a transition to H200.
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