{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
The Nasdaq 100 index is testing a near-term wedge support at 20,354 after a 4% retracement, with Nvidia"s upcoming Q3 earnings expected to influence market direction. Meanwhile, gold prices are attempting to stabilize around the US$2,564 support level, while the USD/JPY pair shows signs of a potential higher low, maintaining an upward bias despite recent consolidation.
IG
Nvidia is collaborating with Google"s Quantum AI division to enhance the design of quantum computing processors. Utilizing Nvidia"s Eos supercomputer, the partnership aims to simulate the necessary physics for quantum components, addressing current technological limitations.
Shares of Nvidia and AMD are trending in opposite directions, prompting Jim Cramer"s insights on both AI chip stocks. Investors are keen to understand the implications of these movements in the tech sector as competition intensifies.
The surge in artificial intelligence began with the launch of ChatGPT in late 2022, which quickly gained 100 million users. This rapid adoption has led to significant investment, with AI data center spending projected to exceed $1.4 trillion from 2024 to 2027, and Nvidia's market value soaring to over $3 trillion.
The S&P 500 is set for a subdued opening after a challenging week, while Tesla shares surged 8% on news of potential regulatory easing for self-driving cars. Caution surrounds Nvidia"s upcoming earnings amid concerns over overheating Blackwell AI chips, while Wells Fargo raised price targets for Dell, UnitedHealth, and CVS Health, reflecting optimism in their respective sectors. Spirit Airlines filed for bankruptcy, and Robinhood received upgrades from analysts, highlighting a shift in sentiment towards digital currencies.
On November 18, 2024, major analyst calls were made regarding several prominent companies, including Nvidia, Netflix, Tesla, Roku, Moderna, CVS, Alphabet, and Robinhood. These evaluations are expected to influence market trends and investor decisions in the coming days.
Investors are eagerly anticipating NVIDIA's quarterly figures, which could spark significant price movements if positive. Currently, the stock faces a challenging chart situation, with a potential test of key support levels, while seasonal trends suggest a weak market phase ahead. Despite this, 39 out of 42 analysts maintain a buy rating, with an average price target indicating a 15% upside from current levels.
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Investors are looking for stabilization in the DAX, with a keen focus on NVIDIA's upcoming figures. Final inflation data for the eurozone is expected on Tuesday, while significant US economic indicators, including GDP figures, will be released later in the week. Monetary policy insights from Fed representatives may also influence market sentiment.
IG
UBS's latest 13F filing reveals a significant increase in its portfolio value to $459 billion, up from $405 billion, for the third quarter ending September 30, 2024. The firm boosted its holdings in Microsoft and Apple, with MSFT valued at $13.9 billion and AAPL at $13.8 billion, reflecting increases of 1.40% and 4.88%, respectively. Notable changes include a 64.21% rise in SPDR S&P 500 ETF Put Options, while positions in Nike and Broadcom were among the top securities sold.
U.S. markets ended the week lower, with the S&P 500 down 1.32% and the Nasdaq Composite falling 2.24%, as investors reacted to Trump’s health department nomination impacting pharmaceutical stocks. Meanwhile, Samsung Electronics announced a surprise $7.19 billion stock buyback, boosting its shares. All eyes are on Nvidia's upcoming earnings report, which could set the tone for market movements amid ongoing volatility and potential policy shifts under the new administration.
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