Hopper58 schreef op 30 augustus 2024 11:34:
Nvidia Stock Rises. It’s a Bargain After Its Post-Earnings Drop, Say Some Analysts.
By
Adam Clark
Published: Aug. 30, 2024 at 5:11?a.m. ET
Nvidia was gaining early on Friday, as traders look to be keen on buying the dip in the chip maker’s shares.
Nvidia shares were up 1.6% at $119.42 in premarket trading.
The stock closed down 6.4% on Thursday following Nvidia’s latest quarterly earnings report.
The issue wasn’t necessarily the results as much as the high expectations going into the report, Barron’s has written. Nvidia largely looks to have addressed concerns about a delay to its next-generation Blackwell chip and any potential knock-on effect to demand, but its guidance wasn’t as strong as the most optimistic estimates.
That was a view widely shared by Wall Street analysts, with Nvidia receiving a raft of price-target upgrades in the wake of the earnings.
“While the stock was down on expectations, if we look at the numbers and the commentary, it suggests a continued drive and focus on AI by NVIDIA’s customers,” wrote J.P. Morgan analyst Harlan Sur in a research note.
Sur has an Overweight rating and $155 target price on Nvidia stock.
Among other chip makers, Advanced Micro Devices was rising 1.1% and Broadcom was gaining 1.6% in premarket trading.
www.beursduivel.be/Forum/Topic/138635...