Jim Cramer's top 10 things to watch in the stock market Thursday
Nvidia's blowout quarter drives shares to an all-time high, while other tech stocks and the Nasdaq surge, and multiple price target hikes for Splunk boost its stock.
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Posted 8/24/2023, 1:00:43 PM
cnbc.com
Relevant topic timeline:
Nvidia's stock jumps after a recent slump, Microsoft submits a new deal to appease U.K. antitrust regulators regarding Activision Blizzard, and Palo Alto Networks stands out in the cybersecurity industry with its strong financials.
Nvidia's bloated valuation and high price-to-earnings ratio poses a threat to the stock market, as investors may realize the company is not as strong as perceived, leading to a potential sell-off that could affect the entire market.
Nvidia shares reach an all-time high due to high expectations for its quarterly results, driven by its dominance in the booming artificial intelligence market.
Nvidia's upcoming earnings report, expected to show a 65% increase in revenue, could have a significant impact on global stock markets and sentiment around the AI industry.
Nvidia shares rise ahead of earnings report, AMC shares plummet as preferred equity is converted and reverse stock split is executed, Toll Brothers beats estimates, UPS shares rise after labor contract is approved, and US services PMI and new home sales are forecasted to improve.
Nvidia stock rises ahead of quarterly earnings report as analysts expect strong results due to high demand for AI products and services.
Nvidia's impressive second quarter earnings have further solidified the bullish trend for AI-related cryptocurrencies, causing tokens such as FET, GRT, INJ, RNDR, and AGIX to surge by over 4% in the past 24 hours.
Nvidia's strong earnings report has implications for other chip and AI stocks, leading to a potential rally attempt in the market, while Dow Jones and S&P 500 futures are mostly flat.
Nvidia shares rose 6% as the company exceeded expectations for Q2 earnings, with revenue of $13.51 billion and a forecast of $16 billion for Q3 driven by strong sales of its graphics processing units (GPUs) and generative AI.
Nvidia's strong second-quarter earnings beat expectations, propelling stock futures higher and indicating continued investor interest in artificial intelligence.
Nvidia's blowout Q2 FY2024 results, with revenues of $13.51B (up +101% y/y) and non-GAAP EPS of $2.70 (up +429% y/y), have positioned the company as the clear beneficiary of the AI boom with strong demand for its Data Center AI chips.
Semiconductor stocks in Asia, including Taiwan Semiconductor Manufacturing Corp and Samsung Electronics, surged following Nvidia's strong quarterly results and optimistic guidance, driven by the demand for AI chips used in data centers and artificial intelligence applications.
Investors are hopeful that Nvidia's upcoming earnings report can reignite the U.S. stocks rally, following a 2023 increase in the company's shares and the broader equity rally.
Stocks surged as optimism built ahead of Nvidia's earnings report, despite disappointing economic data and mixed retail earnings, with Foot Locker's share price sliding and Abercrombie & Fitch beating expectations. Nvidia reported strong earnings, with revenue doubling, and investors are particularly interested in the company's comments on meeting the demand for AI chips and the future of the AI space.
Nvidia's quarterly revenue of $13.5bn, surpassing expectations, and hopes of a pause in rate hikes by central banks have boosted stock markets.
Nvidia's stock is surging as its stellar earnings alleviate concerns about supply constraints and the role of Chinese customers in driving demand.
Nasdaq futures rally as Nvidia Corp.'s strong sales forecast and the ongoing hype around artificial intelligence boost tech stocks, with Nvidia's shares rising 7.9% in premarket trading and contracts on the Nasdaq 100 and S&P 500 signaling further gains for stocks.
Splunk's strong Q2 earnings and guidance are being overshadowed by Nvidia's exceptional results, but the stock is expected to rally.
Nvidia Corp. has exceeded Wall Street expectations with its record earnings and blowout forecast due to skyrocketing demand for AI-chip systems, leading to a remarkable supply chain performance and impressive growth in revenues, with the company only meeting about half of the demand.
Shares of Nvidia surged 6.7% to an all-time high after announcing a $25 billion stock buyback plan and reporting record quarterly revenue, driven by strong demand for its AI-focused chips.
Nvidia's strong growth potential and their ability to adapt to a slowing economy make them a key player in the stock market.
Nvidia's blowout earnings were expected to boost the stock and index futures, but the Federal Reserve's decision to move interest rates will have a greater impact on the market.
Nvidia plans to buy back billions of dollars in stock, signaling a potential trend that could boost the stock market.
Nvidia, the world's most valuable semiconductor company, is experiencing a new computing era driven by accelerated computing and generative AI, leading to significant revenue growth and a potential path to becoming the largest semiconductor business by revenue, surpassing $50 billion in annual revenue this year.
Nvidia stock is currently at its cheapest since January, before it experienced a 250% rally.
Nvidia stock is expected to more than double over the next 12 months, with analysts predicting a potential price target of over $1,000, thanks to the company's strong performance driven by AI and a reasonable valuation. However, challenges such as export restrictions to China and emerging competition may pose obstacles for the company.
Nvidia reported a strong quarter, with beats across three out of its four businesses, driven by strong demand for its data center segment and generative AI products, leading to record revenues and beating market consensus by 22%. However, there are concerns about the sustainability of this growth and the potential impact of competition in the future.
Nvidia stock is approaching its all-time high, but there are three reasons to believe it has reached a plateau.
NVIDIA's Q2 earnings showed high growth and a positive outlook, but the AI hype may be fading, and the stock's valuation is overstretched, leading to a recommendation to sell with a potential 40% decline in the next three months.
Nvidia shares reached a record high and a $1.2 trillion market capitalization for the first time, putting them on track for their best year ever, after the company's blowout earnings report impressed investors.
Nvidia's stock price surge and high valuation indicate a "Big Market Delusion" and a potential bubble that could have broader implications for the market, warns Rob Arnott of Research Affiliates.
Semiconductor stocks, particularly Nvidia, have outperformed the market due to the high demand for chips in AI applications, making Nvidia the better AI stock to buy compared to Intel.
Nvidia's stock has seen a 200% gain this year, highlighting the lucrative potential of the artificial intelligence trade.
Nvidia has tripled its stock so far in 2023, but it is not among the best performing stocks of the year, as Carvana, MoonLake Immunotherapeutics, IonQ, and others have outperformed it.
Nvidia, the semiconductor giant, has experienced a 10% decline in their stock this month, leading to a $180 billion decrease in market capitalization, attributed to the "September effect," although it remains the best performer in the S&P 500 due to the rise of AI and ChatGPT.
Nvidia stock has experienced a pullback along with other chip makers, but analysts remain positive and predict a significant upside potential for the company, particularly in the AI space, with an average 12-month price target implying a 55.14% increase.