More tech stocks are set to benefit from Nvidia's gain, according to analysts. Here's a lineup

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 24 min. at publisher
  • 📊 Quality Score:
  • News: 89%
  • Publisher: 72%

Semiconductor Device Manufacturing News

Technology,Microchip Technology Inc,Analog Devices Inc

Analysts see positive effects for multiple other companies as a result of Nvidia's growth and blowout earnings.

Nvidia 's latest blowout earnings report spells good news for a host of other tech stocks. The dominant maker of artificial intelligence processors delivered expectation-topping fiscal first-quarter results and stronger-than-anticipated guidance, declared a 10-for-1 stock split and raised its dividend. That strong showing bodes well for a host of other companies riding the AI tide or with specific connections to Nvidia.

mountain Super Micro, year to date Taiwan Semiconductor also stands to gain from Nvidia's report, according to Bank of America analyst Brad Lin. Taiwan Semiconductor, which he called the "enabler of generative AI" as a supplier of integrated circuits and packaging, should benefit from high demand. Nvidia's strong forward guidance is a particularly good sign, Bank of America argued.

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:

 /  🏆 12. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysts expect another strong earnings report from Nvidia, lift stock targetsAnalysts expect another strong earnings report from Nvidia, lift stock targets
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia stock: 10 Wall Street analysts discuss earnings, outlookNvidia stock: 10 Wall Street analysts discuss earnings, outlook
Source: Investingcom - 🏆 450. / 53 Read more »