What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is trading higher following Apple Inc's reported Q3 EPS of $1.26 on revenue of $81.8 billion, driven by solid Service sector growth and robust iPhone sales. Amazon.Com, Inc also reported a robust Q2, with a revenue growth of 11% YoY to $134.4 billion, beating the consensus estimate. Bank Of America Corp's CEO dismissed recession forecasts, citing strength in the jobs market and robust consumer spending. Broader index ETFs SPDR S&P 500 and Invesco QQQ Trust, Series 1 are trading in the green.
August 04, 2023 | 3:48 pm
News sentiment analysis
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POSITIVE IMPACT
Apple's strong Q3 report, driven by robust iPhone sales, has led to a rise in Nvidia's stock.
Apple's strong Q3 report, driven by robust iPhone sales, has led to a rise in Nvidia's stock, as Nvidia's AI chips are a leading driver for iPhones.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Amazon's robust Q2 report, with a revenue growth of 11% YoY, has sent the broader indexes higher.
Amazon's robust Q2 report, with a revenue growth of 11% YoY, has sent the broader indexes higher, indicating a positive impact on the market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bank Of America Corp's CEO dismissed recession forecasts, citing strength in the jobs market and robust consumer spending.
Bank Of America Corp's CEO's dismissal of recession forecasts, citing strength in the jobs market and robust consumer spending, indicates a positive outlook for the market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Nvidia's stock is trading higher due to Apple's strong Q3 report, which is driven by robust iPhone sales, a leading driver for Nvidia's AI chips.
Nvidia's AI chips are a leading driver for iPhones, which have reported robust sales in Apple's Q3 report. This has led to a rise in Nvidia's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Invesco QQQ Trust, Series 1 is trading in the green following Amazon's robust Q2 report and Bank Of America's positive outlook.
Invesco QQQ Trust, Series 1 is trading in the green following Amazon's robust Q2 report and Bank Of America's positive outlook, indicating a positive impact on the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
SPDR S&P 500 is trading in the green following Amazon's robust Q2 report and Bank Of America's positive outlook.
SPDR S&P 500 is trading in the green following Amazon's robust Q2 report and Bank Of America's positive outlook, indicating a positive impact on the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60