Wall Street is boosting stock-price targets on Nvidia amid excitement for its new chip
Advertisement
- Nvidia’s third-quarter earnings beat estimates but fell short of the highest expectations.
- Still, Wall Street analysts responded by overwhelmingly raising their price targets for the stock.
- The potential for stock buybacks and its competitive edge are boosting analysts’ confidence.
Nvidia successfully tested Wall Street’s patience after with its hotly anticipated third-quarter earnings report on Wednesday.
Read MoreStock market today: Dow soars 461 points while Nasdaq wavers as tech shares slip
Advertisement
- Indexes ended higher, with a 460-point gain for the Dow.
- Wall Street cheered Nvidia earnings, raising price targets for the chip maker.
- Other Big Tech shares struggled, with Alphabet, Amazon, Meta, and Microsoft ending lower.
Indexes ended higher on Thursday as traders digested another solid earnings beat from Nvidia.
Read MoreEurope: Stoxx 600 snaps four-day losing streak on energy, tech boost
EUROPE’S main stock index edged up on Thursday, buoyed by a rally in energy and tech stocks that ended its longest losing streak in more than two months, while geopolitical tensions underpinned demand for safe-haven assets.
The pan-European Stoxx 600 index closed 0.41 per cent higher at 502.54 points, snapping its four-day losing streak.
» Read more about: Europe: Stoxx 600 snaps four-day losing streak on energy, tech boost »
Read More13 Must-Read Investing Books
getty
When starting or advancing in your investing journey, there is no shortage of perspectives on how you should invest or in what you should invest. One of the best ways to develop a thesis for your personal strategy is to read profiles of great investors,
» Read more about: 13 Must-Read Investing Books »
Read MoreStock market today: Indexes rally as markets cheer Trump's pick for Treasury Secretary
Advertisement
- US stocks surged after Trump appointed Scott Bessent as Treasury Secretary.
- Other postelection trades reversed course as Bessent is seen as a potential counter to some of Trump’s plans.
- Bessent is a former hedge fund manager and a well know global macro investor.
The Burst
Market Commentary: 19 Stocks with Ridiculous Cash Flows
When the economic winds of fortune change, the old saying goes that cash is king but maybe it should be cash flows are king. A company that can spit out enormous sums of cash with predicability may offer a safe haven at a perilous time. To find out what companies stand out, a little-known metric called CROCI is very useful.
» Read more about: Market Commentary: 19 Stocks with Ridiculous Cash Flows »
Read MoreThe Ivy
Market Commentary: The Downside Is Huge Now
It’s not widely known that Nvidia once designed its chips to specifically fall just below U.S. export restrictions, ensuring they remained marketable in China. Unfortunately for them, that loophole just got sealed, and it has big implications for investors.
Nvidia share price hit choppy waters after new U.S. export restrictions aimed to sever the chipmaker’s ties with China.
» Read more about: Market Commentary: The Downside Is Huge Now »
Read More