Nvidia Eyes $1 Trillion Club Following Blowout Earnings

GoJays has the report from Yahoo Finance:

Nvidia ( NVDA) stock closed the day’s trading session Thursday in a blaze of enthusiasm after the company’s impressive Q3 earnings announcement on Wednesday. The shares of the chip maker finished the day higher by 8.25 percent, having risen over 10 percent at the time of opening. The company’s stock’s rise follows the announcement that the company announced that its revenue for the quarter jumped 50% over the previous year due to impressive performances from its gaming and data centre businesses in the third quarter.

Nvidia’s data centre operations at Nvidia have proved to be a boon for the company and have helped push its stock up 124 percent over the course of the trading session on Wednesday. The company’s earnings report has boosted investors’ faith in the business that saw record-breaking revenue in the amount of $2.94 billion for the previous quarter, which represented a 55% growth year-over-year. In addition, not to be left out, the gaming segment of Nvidia recorded record revenues of $3.22 billion, which is a 42% increase over the previous year.

Needham analysts suggested that Nvidia could be “the” first trillion dollar semiconductor company. Bloomberg states that $60 billion was added to the market capitalization of the company this week, putting it close to the threshold of $800 billion. “Since the beginning of the month of October, Nvidia has added more than $300 billion to market value, roughly equivalent to the market value of Disney, Netflix, or Pfizer.”


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