The company’s adjusted revenues of US$3.08 billion, for instance, outdid Zacks Equity Research’s consensus estimate by 2.8% and rose 38.7% year-on-year. More rallies followed after, taking price to a current all-time high of US$468 per share and market cap to US$285 billion.Īnalysts said the stock’s steady rise in the last few months can be attributed to two main factors – solid fundamentals and a strong outlook.ĭespite disruptions caused by the Covid-19 pandemic, the company was able to post strong revenue and earnings performance in the first quarter of its 2021 financial year. Nvidia’s share price also topped the US$400 mark for the first time that month. Nvidia’s share price has rallied over 30% since the start of June 2020, with investors keeping bullish on the stock even amid concerns of a global recession.Ī month later, the gaming-focused graphics processing unit (GPU) producer was even able to overtake Intel for the first time to become the most valuable US semiconductor company (and third globally) by market capitalisation. Nvidia is now the most valuable US chipmaker
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