"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."
"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's shares rose 1.13% over the past five trading sessions after a 1.04% gain in the prior five, producing year-to-date gains exceeding 36%. In July, NVIDIA became the first publicly traded company to reach a $4 trillion market cap, after surpassing Apple and Microsoft among $3 trillion companies. The company announced plans to invest up to $100 billion in OpenAI in late September. That announcement prompted Evercore and Barclays to raise price targets and maintain Outperform/Overweight ratings. Q2 results showed EPS $1.05 versus $1.01 expected and revenue $46.74 billion versus $46.06 billion estimated, triggering multiple analyst price-target increases. NVIDIA supplies GPUs and semiconductors critical to AI, driving outsized five-year returns.
Read at 24/7 Wall St.
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