"Shares of NVIDIA Corp. (NASDAQ:NVDA) gained 1.40% over the past five trading sessions after gaining 5.03% the five prior. That brings the stock's year-to-date gain to nearly 31%. In July, the AI chipmaker became the first publicly traded company to hit a $4 trillion market cap in early July. That achievement came just one month after surpassing both Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) in market cap as members of the $3 trillion market cap club."
"From a financials perspective, the company has tailwinds. When NVIDIA reported Q2 earnings on Tuesday, Aug. 26, it beat on top and bottom lines, announcing EPS of $1.05 against $1.01 expected, and revenue of $46.74 billion against $46.06 billion estimated. That resulted in a flurry of upward price target revisions this summer. DA Davidson upgraded NVIDIA to "Buy" from "Neutral" with a price target of $210, up from $195."
NVIDIA stock rose after consecutive weekly gains and now shows nearly 31% year-to-date growth. In July the company reached a $4 trillion market capitalization, shortly after surpassing Apple and Microsoft as members of the $3 trillion club. The company announced plans to invest up to $100 billion in OpenAI, prompting Evercore and Barclays to raise price targets. Q2 results beat expectations with EPS of $1.05 versus $1.01 and revenue of $46.74 billion versus $46.06 billion. Multiple brokerages raised price targets and ratings including DA Davidson, Bernstein, Bank of America, Citi, JPMorgan, KeyBanc, Morgan Stanley, and Oppenheimer. NVIDIA remains a leading supplier of semiconductors and GPUs driving AI growth.
Read at 24/7 Wall St.
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