News Formal

This stock could capitalize on a strong earnings report from Nvidia

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Loop Capital reiterated its buy rating and $400 price target on SMCI shares ahead of Nvidia's second-quarter earnings announcement.

Super Micro Computer could see upside if Wall Street reacts favorably to Nvidia's much-anticipated earnings release, according to Loop Capital. Analyst Ananda Baruah reiterated his buy rating on SMCI shares ahead of Nvidia's second-quarter earnings announcement Wednesday after the bell. He also maintained his $400 price target on shares, implying nearly 55% upside potential from Tuesday's close.

Analysts were disappointed by the company's outlook for the 2024 fiscal year, which came in more conservative than expected. Baruah said reports of the company's demise "have been greatly exaggerated." The analyst expects SMCI could post potentially $2.3 billion in revenue for the September quarter.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Nvidia’s stock snaps losing streak and sits 1% below record close as earnings optimism buildsNvidia Corp.'s earnings are drawing nearer, and yet another analyst is feeling upbeat heading into the company's report.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Källa: AP - 🏆 728. / 51 Läs mer »

Nvidia Stock Sold By Cathie Wood Ahead of Earnings, Buys More Zoom SharesThe investor's ARK Innovation Fund dumped the stock in January, missing out on most of the chip maker's meteoric 212% rise so far in 2023.
Källa: MarketWatch - 🏆 3. / 97 Läs mer »