From CNBC: 2024-05-23 12:06:54

Nvidia shares surged over 10% following strong earnings, with data center revenue soaring 427% to $26.04 billion in first-quarter revenue. The company issued guidance for $28 billion in the current quarter and reached a new all-time high of $1,051.96 per share.

Analysts remain bullish on Nvidia, with price targets raised by firms such as Bernstein to $1,300 and Jefferies to $1,350. Net income spiked to $14.88 billion, or $5.98 per share, a significant increase from the year-ago quarter.

Nvidia announced a 10-for-1 stock split, set to begin trading on June 10. Wall Street continues to watch the tech giant, with some fearing an “air pocket” while others remain confident in its growth potential.

Read more: Nvidia stock pops 10% to record high