Dallas-Cowboys
6 hours ago
This is a little old but a good read for a tough week
Fortune: โNvidia will produce such a massive โcash gusherโ that it will have to buy back more stock because all that money has nowhere else to goโ, analyst says AI chip leader (nvda) will have an embarrassment of riches in the coming years, and shareholders will be rewarded, a tech analysts predicted. Managing director and head of technology research at Melius Research says Nvidia has mastered a "full stack" approach with its hardware and software, giving it a key advantage in AI. "What they did is they built a computing language and an ecosystem that allows you to monetize AI," he said. he has a price target of $160 on Nvidia stock. Despite selling that began earlier this month, shares have soared 150% so far this year after more than tripling in 2023. Another big advantage Nvidia has over rivals is its annual cadence of innovating new products. That means developers and customers will know where Nvidia is headed and can budget for upgrades accordingly. Given Nvidia's edge in the booming AI space, Melius Research projects the company will generate $270 billion in cash over the next three years, potentially setting the stage for huge shareholder returns. Management may not be eager to tout the possibility of stock buybacks as those are often associated with older companies, Reitzes said. But in his view, it's obvious. "No one's talking about it, and when you do the model we do, it's a cash gusher," he said. "And there's nothing they can do.
rolvram
11 hours ago
โLoad Up Ahead of Earnings,โ Says Top Analyst About Nvidia Stock
Marty Shtrubel
Marty Shtrubel
Jul 24, 2024, 06:42 PM
Itโs that time of day again, and by that, we mean itโs time to give Nvidia (NASDAQ:NVDA) a new, higher price target. As a leading company in the semiconductor and AI space, Nvidia is closely monitored by analysts who frequently revise their models based on the companyโs stock performance and growth potential.
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The latest to join the fray is Piper Sandlerโs Harsh Kumar, an analyst sitting in 15th position amongst the thousands of Street stock experts. Kumar raised his price target on NVDA from $120 to $140, suggesting shares will gain another 22% over the coming months. Unsurprisingly, his Overweight (i.e., Buy) rating on NVDA remains intact. (To watch Kumarโs track record, click here)
The latest endorsement comes ahead of the chip giantโs fiscal second quarter readout (July quarter), slated for August 28, with Kumar believing the scene is set for a robust showing.
โOverall,โ says the 5-star analyst, โour bull case sees NVDA nicely beating July 24 quarter estimates both on the top and bottom line as well as guidance above the street for the Oct 24 quarter. On average, we expect the beat cadence for revenues of ~$2B to continue for both the reported and guided quarters.โ
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The โstrong business trendsโ that have been behind the huge gains are set to continue with the addition of the official launch of the Blackwell architecture in the October quarter. Due to the fact demand from CSPs, enterprises, and sovereign continues to be robust, the new architectureโs launch has the potential to โspur a new leg of growth.โ โAs such,โ Kumar goes on to say, โdemand is expected to be well ahead of supply going forward once the B100/ B200 launches.โ
With the chip giant experiencing such strong demand, the companyโs primary focus seems to be on โsupply procurement.โ Importantly, Kumar notes Nvidia is witnessing not only robust bookings for its new Blackwell launch, but also for current products like the H100 and the H200. โIn our view,โ Kumar summed up, โNVDA continues to have demand visibility that extends into the middle of CY2025 at a minimum.โ
Most on the Street seem just as confident. The analyst consensus rates the stock a Strong Buy, based on a mix of 37 Buys against 4 Holds. Meanwhile, the $142.67 average target is slightly higher than Kumarโs objective and set to deliver returns of ~25% over the coming months.
DiscoverGold
22 hours ago
Nvidia Breaks the 50-day SMA: Is This a Threat or an Opportunity?
By: Arthur Hill | July 26, 2024
โข The long-term trend provides perspective and sets the trading bias.
โข The bias is bullish during long-term uptrends.
โข Breaks below the 50-day SMA are viewed a opportunities, not threats.
After a big run this year, Nvidia (NVDA) fell over 15% from its high and broke its 50-day simple moving average (SMA). On the face of it, a break below this "key" moving average seems like a short-term bearish signal. Such a view, however, would ignore the long-term trend, which is the dominant force at work.
The first job is to define the long-term trend because this provides perspective and sets the trading bias. Nvidia is clearly in a long-term uptrend because it is well above the rising 200-day SMA, and recorded a new high a month ago. During a long-term uptrend, declines are viewed as corrections that provide opportunities. Therefore, the break below the 50-day SMA is more of an opportunity than a threat. Our reports and videos this week suggest the same for QQQ.
Corrections come in all shapes and sizes. We could get a short pullback, an extended pullback, or a trading range. Nobody really knows. The decline into April broke the 50-day SMA, but this correction was short-lived as the stock broke out in early May. The decline in September-October 2023 was longer because NVDA broke the 50-day SMA twice. These breaks did not lead to a bigger trend reversal.
Looking at the current break, the decline over the last four weeks looks like a normal correction after a big advance. NVDA was up 78% from mid-April to mid-June. A correction that retraces a portion of this advance is perfectly normal. The long-term trend is still up, and I view this correction as an opportunity, not a threat.
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Jetmek_03052
1 day ago
Really.
the overall stock market is putting in a MAJOR TOP
The overall stock market has actually decreased from highs seen in early July.
Nasdaq high 20,140, down to 18,390. A decrease of 1,750 (8.5%)
S&P high of 5,669, down to 5,464. A decrease of 205 (about 3.6%)
Dow high of 41,315, down to 40,650. A decrease of 695 (almost 2%)