Today's video focuses on recent news affecting Nvidia (NASDAQ:NVDA)and why its stock price went up over 6% in one day. Here are some highlights from the video.
- In the past few days, analysts have shared bullish sentiments toward Nvidia. On Oct. 25, Piper Sandler adjusted the price target on Nvidia to $260 from $225, and on Oct. 22, Summit Insights Group upgraded Nvidia to buy from sell.
- On Oct. 25, after the market closed, Facebook (NASDAQ:FB) reported earnings and mentioned a strong push into investments for AI and machine learning capabilities. A good portion of the investments will go toward data centers, servers, and network infrastructure, which are markets Nvidia provides solutions for.
- The recent analyst upgrades and the potential revenue from Facebook have caused a strong bullish sentiment toward Nvidia. Investors can expect Nvidia's stock price to be volatile until further information is given during its earnings call, scheduled for Nov. 17.
Click the video below for my full thoughts and analysis.
*Stock prices used were the midday prices of Oct. 26, 2021. The video was published on Oct. 26, 2021.