"Shares of NVIDIA Corp. (NASDAQ:NVDA) gained 5.03% over the past five trading sessions after slipping 0.10% 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."
"The last week of September, the company announced plans to invest up to $100 billion in OpenAI. As a result, Evercore raised its price target on NVIDIA to $225 from $214 while keeping an "Outperform" rating, citing the OpenAI deal as the impetus. 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."
NVIDIA's shares rose 5.03% over the latest five trading sessions and are up nearly 31% year-to-date. In July, NVIDIA became the first publicly traded company to reach a $4 trillion market capitalization, following a recent surpassing of Apple and Microsoft in market value. The company announced plans to invest up to $100 billion in OpenAI, prompting Evercore to raise its price target and several other firms to lift their targets. NVIDIA reported Q2 EPS of $1.05 versus $1.01 expected and revenue of $46.74 billion versus $46.06 billion estimated, reinforcing bullish analyst revisions.
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