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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (89790)

2/23/2023 7:31:54 AM

From: Sam

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Return to Sender

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Why Nvidia Stock Is Skyrocketing Today
BENZINGA 7:27 AM ET 2/23/2023

Symbol Last Price Change

NVDA	207.54	0 (0%)
QUOTES AS OF 04:00:00 PM ET 02/22/2023

Nvidia Corp. (NASDAQ:NVDA) shares were rallying over 8% in premarket trading on Thursday.

Earnings Boost: The strength reflects the graphics chipmaker's better-than-expected fourth-quarter results and its first-quarter guidance that came in above the consensus. The fourth-quarter performance came on the back of a rebound in gaming revenue after the steep drop in the third quarter. Datacenter held up fairly well despite fears of softness.

See Also: Best Semiconductor Stocks Right Now

Needham analyst Rajvindra Gill said he expects Datacenter growth to reaccelerate throughout 2024 and the rebound in gaming revenue to continue to reach the $2.5 billion "true demand" rate in the June quarter.

Additionally, Investors were optimistic over the AI-focus the company has adopted.

Sell-Side Savors Results: Reacting to the quarterly results, sell-side analysts raised their price targets for the shares:

Baird maintained its Neutral rating and increased the price target from $150 to $230.
Oppenheimer maintained an Outperform rating and hiked the price target from $250 to $275.
JPMorgan maintained an Overweight rating and increased the price target from $220 to $250.
Mizuho maintained a Buy rating and upped the price target from $200 to $230.
Barclays maintained a Buy rating and increased the price target from $250 to $275.
Piper Sandler maintained an Overweight rating and hiked the price target from $225 to $275.
Needham maintained a Buy rating and raised the price target from $230 to $270.

Price Action: In premarket trading, Nvidia shares were soaring 9.03%, to $226.29, according to Benzinga Pro data.

[my note: The bid-ask is currently $229.04-.09!]