Nvidia Stock Soars 2.1% on TSMC's Strong Earnings Boost
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: stocktwits
- Stock Performance: Nvidia's shares rose 2.1% on Thursday, marking its best single-day performance this year, and extended gains in after-hours trading with an additional 0.4%, reflecting optimistic market sentiment about its future prospects.
- Earnings Boost: TSMC's Q4 results revealed a 20.5% increase in quarterly revenue and a 35% surge in profit, significantly exceeding Wall Street estimates, which further bolstered confidence in AI chip demand.
- Retail Investor Sentiment: On Stocktwits, retail sentiment for Nvidia surged, with a 17% spike in 24-hour message volume, indicating strong investor expectations for the stock to rebound to the $200 price level.
- Market Outlook: Despite Nvidia's 10% decline from its October 31 peak, TSMC's robust earnings alleviated concerns about a potential plateau in AI server demand, reigniting investor interest in the stock.
Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVDA is 255.63 USD with a low forecast of 185.00 USD and a high forecast of 352.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
40 Analyst Rating
38 Buy
1 Hold
1 Sell
Strong Buy
Current: 183.140
Low
185.00
Averages
255.63
High
352.00
Current: 183.140
Low
185.00
Averages
255.63
High
352.00
About NVDA
NVIDIA Corporation is a full-stack computing infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. The Company’s segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing platforms and artificial intelligence (AI) solutions and software; networking; automotive platforms and autonomous and electric vehicle solutions; Jetson for robotics and other embedded platforms, and DGX Cloud computing services. The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems, and Omniverse Enterprise software for building and operating industrial AI and digital twin applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
