Nvidia Stock Eyes Record Territory On Thursday: What's Powering The Rally?
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) shares rose in premarket trading after reporting Q2 earnings and revenue that exceeded expectations. The company also issued upbeat guidance, with revenue estimates above Wall Street's projections. The company plans to increase supply each quarter through next year to meet demand. Several analysts have raised forward estimates and price targets for the company. In premarket trading, Nvidia shares climbed 8.08% to $509.25.
August 24, 2023 | 11:39 am
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POSITIVE IMPACT
Nvidia's better-than-expected Q2 earnings and upbeat guidance have led to a rise in its stock price and analysts raising their price targets.
Nvidia's strong Q2 earnings and revenue, along with its upbeat guidance, have positively impacted its stock price. This has also led analysts to raise their forward estimates and price targets for the company, indicating a positive outlook for the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100