{"id":116908,"date":"2024-10-22T02:57:45","date_gmt":"2024-10-21T19:57:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=116908"},"modified":"2024-10-22T02:57:45","modified_gmt":"2024-10-21T19:57:45","slug":"nvidia-stock-rises-to-intraday-record-high-as-wall-street-stays-bullish-ahead-of-earnings","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=116908","title":{"rendered":"Nvidia stock rises to intraday record high as Wall Street stays bullish ahead of earnings"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Nvidia (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\" data-ylk=\"slk:NVDA;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">NVDA<\/a>) shares rose to a new intraday high on Monday, as Wall Street analysts hold firm to their bullish positions on the stock ahead of its earnings report in November.<\/p>\n<p>Shares of the leading AI chipmaker rose 3% to above $142, beating Nvidia\u2019s previous intraday high last week of $140.89.<\/p>\n<p>The move comes as Wall Street analysts reiterate their Buy ratings on the stock. Citing strong demand for AI, Bank of America (<a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/BAC\" data-ylk=\"slk:BAC;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">BAC<\/a>) on Friday raised its price target on the stock from $165 to $190, while investment research firm CFRA raised its price target for Nvidia last week from $139 to $160. Overall, analysts see shares rising to $148.37 over the next 12 months, according to Bloomberg consensus estimates.<\/p>\n<p>In addition to growth in the AI market at large, Bank of America analyst Vivek Arya said Nvidia\u2019s strength in the enterprise AI space \u2014 i.e. its partnerships with companies such as Microsoft and Accenture \u2014 is another factor contributing to his higher price target. Arya said \u201cNVDA is the partner of choice\u201d for enterprise AI hardware and software.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 668px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:70%\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"Nvidia headquarters in Santa Clara, California. (Photo by Justin Sullivan\/Getty Images)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/oGS95E7ryVo8z4dgVi2dmQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2OA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-10\/f43bedc0-8fdc-11ef-9efe-b75f30658ef4\"\/><img decoding=\"async\" alt=\"Nvidia headquarters in Santa Clara, California. (Photo by Justin Sullivan\/Getty Images)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/oGS95E7ryVo8z4dgVi2dmQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2OA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-10\/f43bedc0-8fdc-11ef-9efe-b75f30658ef4\" class=\"caas-img\"\/><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">Nvidia headquarters in Santa Clara, California. (Photo by Justin Sullivan\/Getty Images)<span class=\"caption-credit\"> (Justin Sullivan via Getty Images)<\/span><\/figcaption><\/p>\n<\/figure>\n<p>Wedbush analyst and Nvidia bull Dan Ives echoed that sentiment in a note to investors Sunday, writing that there is \u201ca tidal wave of enterprise spending as AI use cases explode,\u201d with Nvidia leading the market.<\/p>\n<p>Ives forecasts the AI infrastructure market to grow tenfold between now and 2027, with companies spending $1 trillion on AI capital expenditures in that time frame.<\/p>\n<p>\u201cIn a nutshell, we believe the stage is set for tech stocks to see another 20% move higher in 2025 with this tech bull market just hitting its next phase led by the AI Revolution,\u201d Ives added. \u201cIn our opinion as the Fed and Powell have kicked off its aggressive rate cutting cycle, macro soft landing remains the path, and tech spending on AI remains a generational spending cycle just starting to hit the shores of the tech sector.\u201d<\/p>\n<p>Despite <a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/nvidia-stock-tumbles-from-record-high-on-news-of-possible-us-chip-export-cap-asmls-dismal-earnings-163259227.html\" data-ylk=\"slk:a short-lived tumble last week;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">a short-lived tumble last week<\/a> and <a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/asml-earnings-disappointment-isnt-a-disaster-for-the-ai-chip-sector-211412268.html\" data-ylk=\"slk:looming fears of an AI spending slowdown;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">looming fears of an AI spending slowdown<\/a>, Nvidia shares have risen nearly 3% over the past week and more than 20% in the last month.<\/p>\n<p>Nvidia CEO Jensen Huang has said there is <a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/nvidia-stock-rises-as-ceo-jensen-huang-touts-insane-chip-demand-162700341.html\" data-ylk=\"slk:\u201cinsane\u201d demand for its AI chips;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">\u201cinsane\u201d demand for its AI chips<\/a>, which are used in data centers by Big Tech companies to power generative artificial intelligence software. Recent positive news from the company&#8217;s industry partners has also <a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/nvidia-and-other-chip-stocks-surge-with-no-sign-of-ai-spending-slowdown--for-now-212335257.html\" data-ylk=\"slk:boosted AI stocks across the board;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">boosted AI stocks across the board<\/a>, including Nvidia. <a data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/micron-stock-soars-as-q1-revenue-forecast-tops-analyst-estimates-123207244.html\" data-ylk=\"slk:Micron;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">Micron<\/a> (<a data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/MU\" data-ylk=\"slk:MU;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">MU<\/a>), which supplies memory chips used in Nvidia\u2019s GPUs, and <a data-i13n=\"cpos:9;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/chip-stocks-rally-as-tsmc-forecasts-strong-ai-demand-for-many-years-155420433.html\" data-ylk=\"slk:TSMC;cpos:9;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">TSMC<\/a> (<a data-i13n=\"cpos:10;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/TSM\" data-ylk=\"slk:TSM;cpos:10;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">TSM<\/a>), which manufactures Nvidia\u2019s AI chips, both surpassed Wall Street\u2019s expectations in their recent earnings reports.<\/p>\n<p>The AI chip market is expected to grow 99% in 2024 and another 74% in 2025, according to consulting firm International Business Strategies, which tracks industry data.<\/p>\n<p><button class=\"link caas-button readmore-button-finance collapse-button readmore-button-class\" data-ylk=\"elm:readmore;slk:Story continues\"><span class=\"readmoreButtonText\">Story continues<\/span><\/button><\/p>\n<p>Still, there&#8217;s a chance that <a data-i13n=\"cpos:11;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/nvidia-is-set-to-dominate-another-big-tech-earnings-season-194525244.html\" data-ylk=\"slk:even the slightest slowdown in Nvidia's growth could send the stock lower;cpos:11;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">even the slightest slowdown in Nvidia&#8217;s growth could send the stock lower<\/a>, as investors proved difficult to please during Big Tech&#8217;s last wave of quarterly reports.<\/p>\n<p>Wall Street analysts tracked by Bloomberg expect Nvidia to report third quarter earnings per share of $0.74, an 84% increase from last year. They see revenue rising 83% to $33.1 billion.<\/p>\n<p>Some 67 analysts have Outperform ratings on Nvidia stock, while 7 maintain a Hold rating, and only one recommends selling shares.<\/p>\n<p><em>Laura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5.<\/em><\/p>\n<p><a data-i13n=\"cpos:12;pos:1\" href=\"https:\/\/finance.yahoo.com\/topic\/stock-market-news\/\" data-ylk=\"slk:Click here for the latest stock market news and in-depth analysis, including events that move stocks;cpos:12;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/strong><\/a><\/p>\n<p><a data-i13n=\"cpos:13;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:13;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/nvidia-stock-rises-to-intraday-record-high-as-wall-street-stays-bullish-ahead-of-earnings-190404863.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia (NVDA) shares rose to a new intraday high on Monday, as Wall Street analysts hold firm to their bullish positions on the stock ahead of its earnings report in &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=116908\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116908","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116908"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116908\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}