♨ Nvidia stocks are heading Up to recover, after September melt
Updated
Nvidia stocks moved higher in early Monday trading after analysts at Goldman Sachs 
GS added the chipmaker, along with three other stocks, to its flagship list of stock recommendations.
Goldman Sachs analysts added Nvidia to the bank's "Americas Conviction List", a step up from the 'buy' rating it assigned to the stock in late August, while holding its price target in place at $605 per share.
"Look for Nvidia to maintain its statues as the accelerated computing industry standard for the foreseeable futures given its competitive moat and the urgency with which customers are developing and deploying increasingly complex AI models," Goldman argued.
The bank also added cybersecurity group Okta
OKTA , industrial supply group Cintas 
CTAS and biotech Quanterix 
QTRX to the "conviction buy" list while removing Salesforce 
CRM and Johnson Controls 
JCI .
Nvidia, the world's biggest AI chipmaker, forecast current quarter revenues of around $16 billion in August when it published stronger-than-expected second quarter earnings and later unveiled an make it easier for clients to run AI applications on Google Cloud
GOOGL using Nvidia-made chips with deeper integration between hardware and software offerings.
"We’re at an inflection point where accelerated computing and generative AI have come together to speed innovation at an unprecedented pace," said CEO Jensen Huang of the Google agreement. "Our expanded collaboration with Google Cloud will help developers accelerate their work with infrastructure, software and services that supercharge energy efficiency and reduce costs."
Nvidia shares were marked 3% higher in early Monday trading to change hands at $ 448 /share. The stock is up more than 200% for this year, and reached an all-time high of $487.84 on Aug 29, 2023.
Technical picture says, Nvidia
NVDA stocks are still on its positive path, and trading above 6- and 12-months simple moving averages.
Moreover the key breakout of technical indicator known as "a Triangle" is happening right here as stocks are recovering form the bearish hug.
GS added the chipmaker, along with three other stocks, to its flagship list of stock recommendations. Goldman Sachs analysts added Nvidia to the bank's "Americas Conviction List", a step up from the 'buy' rating it assigned to the stock in late August, while holding its price target in place at $605 per share.
"Look for Nvidia to maintain its statues as the accelerated computing industry standard for the foreseeable futures given its competitive moat and the urgency with which customers are developing and deploying increasingly complex AI models," Goldman argued.
The bank also added cybersecurity group Okta
OKTA , industrial supply group Cintas CTAS and biotech Quanterix QTRX to the "conviction buy" list while removing Salesforce CRM and Johnson Controls JCI .Nvidia, the world's biggest AI chipmaker, forecast current quarter revenues of around $16 billion in August when it published stronger-than-expected second quarter earnings and later unveiled an make it easier for clients to run AI applications on Google Cloud
GOOGL using Nvidia-made chips with deeper integration between hardware and software offerings."We’re at an inflection point where accelerated computing and generative AI have come together to speed innovation at an unprecedented pace," said CEO Jensen Huang of the Google agreement. "Our expanded collaboration with Google Cloud will help developers accelerate their work with infrastructure, software and services that supercharge energy efficiency and reduce costs."
Nvidia shares were marked 3% higher in early Monday trading to change hands at $ 448 /share. The stock is up more than 200% for this year, and reached an all-time high of $487.84 on Aug 29, 2023.
Technical picture says, Nvidia
NVDA stocks are still on its positive path, and trading above 6- and 12-months simple moving averages.Moreover the key breakout of technical indicator known as "a Triangle" is happening right here as stocks are recovering form the bearish hug.
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Oct 6, 2023Nvidia turns higher
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Feb 22, 2024• Reported Q4 revenue of $22.10 billion, surpassing estimates, and forecasted Q1 revenue of $24.0 billion, exceeding Street estimates.
• Expected to report fiscal Q4 adjusted earnings of $4.59 per share with a 237% YoY sales increase to $20.4 billion. Shares rose by 6% in after-hours trading.
• Reported record quarterly revenue of $22.1 billion, up 22% QoQ and 265% YoY. Data Center revenue reached a record high of $18.4 billion. Gross margins in 4Q increased to 76%.
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