Stuck In Stasis - With Nvidia's Price Unchanged From Two Months Ago, Will This Week's Earnings Be The Catalyst To Propel The Stock Forward?
Portfolio Pulse from Zaheer Anwari
Nvidia, a leading tech firm known for its advanced graphics and AI chips, recently hit a record stock price of $481.87, marking a 315% growth since October 2022. Investors are eagerly awaiting Nvidia's Q2 earnings report, with expectations set at $2.09, especially after Q1 earnings exceeded estimates by 18.48%. However, the stock price has been stagnant for the past two months and is currently down 2% for August, and 13% from its peak in July.
August 23, 2023 | 2:29 pm
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Nvidia's stock price hit a record high, but has been stagnant for the past two months. The upcoming Q2 earnings report could potentially drive the stock price higher.
Nvidia's stock price has been stagnant for the past two months, despite hitting a record high. The upcoming Q2 earnings report, which is expected to be strong, could potentially drive the stock price higher. However, it's also important to note that higher-than-expected earnings do not automatically lead to a rise in stock price.
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