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%.
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