From Investor’s Business Daily: 2024-05-01 11:53:22

Nvidia stock fell below the 50-day moving average after Super Micro Computer reported first-quarter results, sparking investor concerns. However, chart patterns suggest a potential buy point, with lighter volume during the sell-off. Nvidia recently acquired Run.ai for $700 million, showcasing their AI priorities and roadmap. Analysts have bullish price targets for Nvidia stock, anticipating increased demand for their chips in the coming years. Nvidia reported a beat-and-raise fourth quarter, with earnings of $5.16 a share on sales of $22.1 billion. The company’s AI products have been driving growth, with projections that AI chip revenue will double by 2027. Nvidia stock holds top ratings, but currently is not a buy. The stock may offer a potential entry point if it retakes the 50-day moving average or breaks out of a new base.



Read more at Investor’s Business Daily: Nvidia Falls Below Key Level As SMCI Dives; Is The Stock A Buy Now?| Investor’s Business Daily