Nvidia Shares Are Moving Higher: What's Happening?
Portfolio Pulse from Erica Kollmann
NVIDIA Corp. (NASDAQ:NVDA) shares are climbing as CEO Jensen Huang confirmed the company's Blackwell chips are in full production and in high demand. Analysts predict strong fourth-quarter revenue due to intense demand, potentially driving Nvidia to a $10 trillion valuation. NVDA stock is trading above its 50-day moving average.
October 03, 2024 | 4:41 pm
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NVIDIA's Blackwell chips are in full production and experiencing high demand, which is expected to boost Q4 revenue. The stock is currently outperforming the market and trading above its 50-day moving average.
The confirmation of Blackwell chips in full production and their high demand is a positive indicator for NVIDIA's revenue in the upcoming quarter. This news has already led to a rise in NVDA's stock price, which is trading above its 50-day moving average, suggesting strong investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100