Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Nvidia bulls pile in after HSBC raises price target By: FOX Business August 21, 2023 at 17:07 PM EDT Shares of chipmaker Nvidia were up Monday after HSBC analysts lifted the chipmaker’s price target on an increasing sales forecast for fiscal 2024. Shares of Nvidia were up Monday after HSBC analysts lifted the chipmaker’s price target on an increasing sales forecast for fiscal 2024. Researchers are raising their price target from $600 to $780 based on bullish predictions for Nvidia AI data center sales and a significant quarter-over-quarter spike of roughly 29% on $19.4 billion in total sales for fiscal 2024. Consensus estimates have total sales near $13.7 billion.HSBC also revised its earnings per share (EPS) estimates of 19% and 29%, which are now 21% and 23% above consensus estimates. NVIDIA ANNOUNCES NEW CHIP TO POWER AI MODELS, REDUCE COSTSOn Wall Street, shares of Nvidia have risen around 48% the last quarter and nearly 216% since Jan. 1. Over the last five days, shares of the chipmaker are almost 5.9% higher. The rapid advance of artificial intelligence applications fueled much of Nvidia's stock growth throughout the year, pushing its market capitalization over $1 trillion.WHAT IS ARTIFICIAL INTELLIGENCE (AI)?GLOBAL INVESTMENT IN AI COULD NEAR $200 BILLION BY 2025: GOLDMAN SACHS"We see Nvidia likely to beat its previous guidance as our fiscal year 2024 sales now up 9% ahead of consensus estimate and company guidance," HSBC analyst Frank Lee wrote.SURGING DEMAND FOR AI CREATING SHORTAGE OF HIGH-POWERED CHIPS"Another potential bull case scenario for Nvidia involves the product mix toward more downstream businesses such as its system product line up." Last week, Nvidia shares reached their highest mark of 2023 after HSBC analysts changed their recommendation from "reduce" to "buy" amid increasing opportunities in artificial intelligence.GET FOX BUSINESS ON THE GO BY CLICKING HERE Related Stocks: NVIDIA Corp Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Nvidia bulls pile in after HSBC raises price target By: FOX Business August 21, 2023 at 17:07 PM EDT Shares of chipmaker Nvidia were up Monday after HSBC analysts lifted the chipmaker’s price target on an increasing sales forecast for fiscal 2024. Shares of Nvidia were up Monday after HSBC analysts lifted the chipmaker’s price target on an increasing sales forecast for fiscal 2024. Researchers are raising their price target from $600 to $780 based on bullish predictions for Nvidia AI data center sales and a significant quarter-over-quarter spike of roughly 29% on $19.4 billion in total sales for fiscal 2024. Consensus estimates have total sales near $13.7 billion.HSBC also revised its earnings per share (EPS) estimates of 19% and 29%, which are now 21% and 23% above consensus estimates. NVIDIA ANNOUNCES NEW CHIP TO POWER AI MODELS, REDUCE COSTSOn Wall Street, shares of Nvidia have risen around 48% the last quarter and nearly 216% since Jan. 1. Over the last five days, shares of the chipmaker are almost 5.9% higher. The rapid advance of artificial intelligence applications fueled much of Nvidia's stock growth throughout the year, pushing its market capitalization over $1 trillion.WHAT IS ARTIFICIAL INTELLIGENCE (AI)?GLOBAL INVESTMENT IN AI COULD NEAR $200 BILLION BY 2025: GOLDMAN SACHS"We see Nvidia likely to beat its previous guidance as our fiscal year 2024 sales now up 9% ahead of consensus estimate and company guidance," HSBC analyst Frank Lee wrote.SURGING DEMAND FOR AI CREATING SHORTAGE OF HIGH-POWERED CHIPS"Another potential bull case scenario for Nvidia involves the product mix toward more downstream businesses such as its system product line up." Last week, Nvidia shares reached their highest mark of 2023 after HSBC analysts changed their recommendation from "reduce" to "buy" amid increasing opportunities in artificial intelligence.GET FOX BUSINESS ON THE GO BY CLICKING HERE Related Stocks: NVIDIA Corp