Chip Stocks Still Leading the Charge as Nvidia Stock Hits Record
Nvidia stock has underlined its status as the artificial-intelligence king this week, reaching its highest level on record and regaining the chip designer the title of the world’s most valuable company.
Shares were up another 1.3% ahead of Thursday’s opening bell. Market veteran Ed Yardeni touted Nvidia and its peers in a research note late Wednesday, arguing that they will carry on leading the market higher.
He pointed to the industry’s unusually high forward profit margin of nearly 40%, which he said reflected the idea that the semiconductor makers were “constantly innovating.”