From Nasdaq: 2024-11-19 16:10:33

Shares of Nvidia (NASDAQ: NVDA) surged 4.9% on Tuesday, with analysts raising price targets ahead of the upcoming quarterly report. Truist Securities and Stifel analysts predict potential gains of 19% and 28%, respectively. Expectations are high for Nvidia’s fiscal 2025 third-quarter results, set to be released after the market close on Wednesday.

Nvidia reported strong revenue guidance of $32.5 billion for its fiscal 2025 third quarter, representing 79% growth. Investors are watching for progress on the Blackwell AI-centric processor release. Nvidia stock is currently trading at 33 times next year’s earnings, considered a small price to pay for AI processing excellence.

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Read more at Nasdaq: Why Nvidia Stock Rallied (Again) on Tuesday