Nvidia's stock has been a massive outperformer lately, and the company's latest results suggest to some analysts that the name is not done running up.
Nvidia Corp.’s stock has been a massive outperformer lately, and the company’s latest results suggest to some analysts that the run-up is not finished.
Taking into account a 12% Thursday gain as of midday, Nvidia shares NVDA are up 59% this year, as the S&P 500 SPX has risen about 4% and the PHLX Semiconductor Index SOX has rallied 16%. Bernstein’s Stacy Rasgon also sees more room to rally for Nvidia shares. “Given the run the stock has had we believe many were nervous into the print, but the results seem to bolster the set-up from here which seems good at this point,” Rasgon wrote. “Tactically, following the results investors can now buy the stock at the start of a datacenter ramp, with a strong gaming trajectory.”
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