Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 500 ETF Trust (Symbol: SPY) where we have detected an approximate $4 inflow -- that's a 1.2% increase week over week in outstanding uni
In early trading on Monday, shares of Microchip Technology topped the list of the day's best performing components of the Nasdaq 100 index, trading up 2.3%. Year to date, Microchip Technology registers a 6.3% gain.
The technology sector has long been a driving force behind the global economy. It has also been a catalyst for innovative breakthroughs across various industries. As one of the fastest-evolving sectors, it encompasses a wide range of industries. Everything from software developme
Wall Street closed higher on Friday, boosted by energy and tech stocks. Strong earnings numbers coming in from mega-cap tech and energy companies lifted investor mood. PCE inflation came in low, in line with expectations. All three major indexes ended in the green.
Below is Validea's guru fundamental report for NVIDIA CORPORATION (NVDA). Of the 22 guru strategies we follow, NVDA rates highest using our Quantitative Momentum Investor model based on the published strategy of Wesley Gray. This momentum model looks for stocks with strong and c
The Artificial Intelligence (AI) sector has experienced an extraordinary expansion and metamorphosis in recent years. This has been driven by notable innovations in machine learning, deep learning, natural language processing, and computer vision. As a result, AI has become an es
Artificial intelligence (AI) is having a breakout moment. Thought leaders across multiple industries have noted that AI is currently at an inflection point and will change how people and organizations work from this point on.
Artificial intelligence is the biggest buzzword on the market today, and there are a lot of ways to invest in this area of growth. But the biggest winners dominating the discussion today might not be names like NVIDIA (NASDAQ: NVDA) and Microsoft (NASDAQ: MSFT) but rather compani
SoftBank Group Corp's chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, Arm said on Saturday, setting the stage for this year's largest initial public offering.
Virtual reality (VR) has been one of those technologies that always seems close to going mainstream, but has never quite reached the tipping point to make it so. But with Apple (NASDAQ: AAPL) likely on the verge of releasing its VR headset in the next few months, this once-niche
Nvidia (
NASDA:NVDA)
has been on a remarkable run this year, with its shares surging by an impressive 89% year-to-date. The chip giant's success can largely be attributed to this year’s hottest trend: Generative AI. The company is widely recognized as a leader in the field and seen as one set to benefit from increased adoption of the tech.
In fact, with a view to next month’s F1Q earnings (May 24), Morgan Stanley analyst Joseph Moore thinks all the hoopla around AI should result in a strong report.
“We see a positive setup for NVIDIA in this quarter's earnings, with checks indicating that the significant enthusiasm we've seen from AI adopters has translated into reacceleration for data center (DC) product,” the 5-star analyst said.
Moore also sees the flagship AI chip H100 and the return of its predecessor, the A100, driving the quarter’s growth.
Moreover, looking ahead, with Nvidia’s state-of-the-art AI/ML hardware solutions given a proper boost from all the enthusiasm around generative AI, over the next 5 years, the DC business should be responsible for much of the anticipated growth.
But not only the DC segment. Moore also gives a shout out to Nvidia’s once main breadwinner – Gaming. After several quarters of declining growth, the segment showed signs it was coming back to life in FQ4 (January quarter) and with anticipated tailwinds from 40-series product over the course of the year, Moore sees an “opportunity for the company to reaccelerate growth in the gaming business.”
Down to the nitty-gritty, what does it all mean for investors? Moore currently rates the shares as Overweight (i.e., Buy) while his $304 price target suggests they will be changing hands for a 10% premium a year from now. (To watch Moore’s track record,
click here)
Let’s turn our attention now to the rest of the Street, where based on 30 Buys 7 Holds, and just a single Sell, NVDA currently carries a Strong Buy consensus rating. Although with an average price target of $286.94, the analysts project a modest 4% upside over the coming months. (See
Nvidia stock forecast
)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Intel Corp shares rose 8% as the once-dominant chipmaker showed signs of a turnaround after ceding market share to rivals and struggling with all-time low margins.
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