Today's video focuses on recent news affecting Nvidia (NVDA +1.13%) and why its stock price increased over 10% on Nov. 11. Here are some highlights from the video.
- Two analysts have recently increased their price target for Nvidia, causing bullish sentiment toward its stock price. On Nov. 4, an analyst from Wells Fargo increased its price target to $320 from $245, and on Oct. 25, Piper Sandler increased its price target to $260 from $225.
- Recent talks of big tech companies investing in a future metaverse have made investors excited for Nvidia. The increase in spending on data center and network components can benefit top-line numbers for Nvidia. Investors should remember that the metaverse is still far in the future.
- Nvidia is expected to report earnings on Nov. 17, after the market closes, for its quarter ended Oct. 31. Nvidia's stock price has gone up over 45% in the past month, and this has caused high volatility as its earnings get closer.
Click the video below for my full thoughts and analysis.
*Stock prices used were the midday prices of Nov. 4, 2021. The video was published on Nov. 4, 2021.
