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Why Nvidia Soared Over 10% on Thursday

By Jose Najarro – Nov 5, 2021 at 10:00AM

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Price target upgrades and metaverse talks are moving the semiconductor market.

Today's video focuses on recent news affecting Nvidia (NVDA 2.84%) and why its stock price increased over 10% on Nov. 11. Here are some highlights from the video. 

  1. 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.
  2. 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.
  3. 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.

Jose Najarro owns shares of Nvidia. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

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