| To: Frank Sully who wrote (1823) | 4/12/2021 6:18:27 PM | | From: Glenn Petersen | | | | TECH
Nvidia stock rises as it sees better-than-expected first quarter
PUBLISHED MON, APR 12 20212:41 PM EDTUPDATED MON, APR 12 20215:38 PM EDT
Kif Leswing @KIFLESWING
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KEY POINTS
Nvidia stock rose over 6% on Monday after telling investors that it expected its first-quarter income to be higher than previously expectedThe signal about a strong quarter comes as demand for semiconductor microchips, like the products that Nvidia sells, has been high around the world.Nvidia said that its chips could be hard to find through the end of the year amid product shortages.
A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California.
Justin Sullivan/Getty Images
Nvidia stock closed up 5.62% on Monday after the company announced several new products and told investors that it expected its first-quarter income to surpass previous estimates.
Nvidia said revenue in its fiscal first quarter, which ends in May, is likely to be higher than $5.3 billion, which was its previous estimate for investors from February.
Analysts polled by Refinitiv previously expected that Nvidia would report $5.32 billion in sales in the quarter.
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“While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion outlook provided during our fiscal year-end earnings call,” said Colette Kress, Nvidia’s CFO, in a statement.
The signal about a strong quarter comes as demand for microchips, like the products that Nvidia sells, has been high around the world, leading to short supply and high aftermarket prices for desirable chips, such as Nvidia’s most recent line of graphics cards. Nvidia’s total revenue in its fiscal fourth quarter was up 61%.
Nvidia said that its chips could be hard to find through the end of the year, but that it would still ship enough chips to continue to report growing revenue.
“Overall demand remains very strong and continues to exceed supply while our channel inventories remain quite lean,” Kress said. “We expect demand to continue to exceed supply for much of this year.”
On Monday, Nvidia announced a new server chip called Grace, fresh systems for running artificial intelligence on servers, software for running chatbots and speech recognition, and new products for self-driving cars.
Nvidia also said that its line of chips for industrial cryptocurrency miners would report as much as $150 million in revenue in the fiscal first quarter, up from a previous estimate of $50 million.
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| To: Frank Sully who wrote (1823) | 4/12/2021 6:23:06 PM | | From: Glenn Petersen | | | | Nvidia stock rises as it sees better-than-expected first quarter
PUBLISHED MON, APR 12 20212:41 PM EDT
UPDATED MON, APR 12 20215:38 PM EDT
Kif Leswing @KIFLESWING
CNBC.com'
KEY POINTS
-- Nvidia stock rose over 6% on Monday after telling investors that it expected its first-quarter income to be higher than previously expected
-- The signal about a strong quarter comes as demand for semiconductor microchips, like the products that Nvidia sells, has been high around the world.
-- Nvidia said that its chips could be hard to find through the end of the year amid product shortages.
Nvidia stock closed up 5.62% on Monday after the company announced several new products and told investors that it expected its first-quarter income to surpass previous estimates.
Nvidia said revenue in its fiscal first quarter, which ends in May, is likely to be higher than $5.3 billion, which was its previous estimate for investors from February.
Analysts polled by Refinitiv previously expected that Nvidia would report $5.32 billion in sales in the quarter.
“While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion outlook provided during our fiscal year-end earnings call,” said Colette Kress, Nvidia’s CFO, in a statement.
The signal about a strong quarter comes as demand for microchips, like the products that Nvidia sells, has been high around the world, leading to short supply and high aftermarket prices for desirable chips, such as Nvidia’s most recent line of graphics cards. Nvidia’s total revenue in its fiscal fourth quarter was up 61%.
Nvidia said that its chips could be hard to find through the end of the year, but that it would still ship enough chips to continue to report growing revenue.
“Overall demand remains very strong and continues to exceed supply while our channel inventories remain quite lean,” Kress said. “We expect demand to continue to exceed supply for much of this year.”
On Monday, Nvidia announced a new server chip called Grace, fresh systems for running artificial intelligence on servers, software for running chatbots and speech recognition, and new products for self-driving cars.
Nvidia also said that its line of chips for industrial cryptocurrency miners would report as much as $150 million in revenue in the fiscal first quarter, up from a previous estimate of $50 million.
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| From: Frank Sully | 4/17/2021 7:11:56 PM | | | | | | How High Can Nvidia Go From Here?
Nvidia continues to run to all-time highs. Here's a look at where the stock could go from here.
Bret Kenwell
Apr 16, 2021 2:01 PM EDT
Nvidia ( NVDA) - Get Report might be down almost 1% on Friday but lately the stock has been on fire.
It's still up more than 1% for the week and will finish higher for the third consecutive week.
Helping drive the stock's current rally was the company’s GTC event, where a keynote presentation from CEO Jensen Huang helped unleash a flood of buying among investors and drove the stock to new all-time highs.
Nvidia has drawn the praise of analysts too. For instance, Raymond James analysts recently raised their price target to $750 from $700 as they eye a rebound in enterprise spending and Nvidia’s new chip.
We have done well with Nvidia's technicals, too.
In March, I analyzed the stock as it probed for a bottom. Then earlier this month, the stock gave bulls a monthly-up rotation, setting the stage for an explosive rally over the prior 52-week highs near $615. |
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| From: Frank Sully | 4/17/2021 7:16:22 PM | | | | | | Nvidia Shares Up 11% This Week On New Supercomputing Chip
Shares of graphics chip maker Nvidia (NASDAQ: NVDA) jumped 11% this week after the company announced its new Grace chip created specifically for artificial intelligence data centers.
entrepreneur.com |
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