Nvidia Stock Hits Record High After Stellar Earnings. What Wall Street Is Saying.

📆 2023/08/24 19:02:00
📰 MarketWatch

⏱ Reading Time:
26 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Analysts have been upgrading price targets for the chip maker's shares following its impressive report.

Nvidia shares surged to a record high as analysts welcomed results showing the artificial-intelligence boom is still powering its growth.

read this “With visibility extending into ’24, [Nvidia] management has qualified additional suppliers…and expects to increase supply each quarter through next year to meet demand,” KeyBanc analyst John Vinh wrote in a research note. UBS analysts noted that Nvidia indicated it could reallocate Chinese shipments of its A800 and H800 chips—which have intentionally limited capacity to meet U.S. export restrictions—if required. They kept a Buy rating on the stock and raised their target price to $560 from $540.

Write Comment

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:

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Nvidia’s stock soars after AI boom pushes chip giant to record earnings and blowout forecastNvidia Corp. shares rallied after hours Wednesday after the maker of graphics processing units reported a 141% surge in data-center sales.
Source: MarketWatch - 🏆 3. / 97 Read more »

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.
Source: AP - 🏆 728. / 51 Read more »