From Nasdaq: 2024-04-03 17:45:20

In the recent trading session, Nvidia’s stock stood at $889.64, showing a -0.55% change from the previous day. The stock slightly lagged behind the S&P 500, with the Nasdaq witnessing an increase of 0.23%. Over the past month, Nvidia gained 4.06%, outperforming its sector and the S&P 500 in terms of growth.

Investors are eagerly awaiting Nvidia’s earnings report, with a projected EPS of $5.48, indicating a 402.75% increase from last year’s quarter. Revenue is estimated to be $24.17 billion, a 236.08% rise. Analysts suggest keeping an eye on any revisions to these estimates, as they can impact the company’s stock price momentum.

Nvidia currently holds a Zacks Rank of #1 (Strong Buy), with a Zacks Consensus EPS estimate increasing by 3.09% in the past month. Its Forward P/E ratio of 37.52 is higher than the industry average of 27.08. The Semiconductor – General industry, which Nvidia is part of, ranks 66 out of over 250 industries, showing strength within the sector.

Zacks has named a new top semiconductor stock that is 1/9,000th the size of Nvidia but has significant growth potential. With a focus on Artificial Intelligence, Machine Learning, and Internet of Things, this stock is poised to capitalize on the booming demand for semiconductors. Global semiconductor manufacturing is expected to reach $803 billion by 2028.



Read more at Nasdaq: Nvidia (NVDA) Stock Falls Amid Market Uptick: What Investors Need to Know