{"id":52379,"date":"2023-08-24T06:25:33","date_gmt":"2023-08-24T10:25:33","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nvidia-stock-is-surging-its-earnings-cleared-up-concerns-including-china\/"},"modified":"2023-08-24T06:25:35","modified_gmt":"2023-08-24T10:25:35","slug":"nvidia-stock-is-surging-its-earnings-cleared-up-concerns-including-china","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52379","title":{"rendered":"Nvidia Stock Is Surging. Its Earnings Cleared Up Concerns Including China."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000727993\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Nvidia<br \/>\n       shares were surging Thursday as analysts welcomed results showing the artificial-intelligence boom is still powering its growth.\u00a0It also relieved concerns about supply constraints and how far demand is being driven by Chinese customers. <\/p>\n<p>\n        Nvidia<br \/>\n       (ticker: NVDA) stock was up 7.7% to $507.55<strong>\u00a0<\/strong>in premarket trading on Thursday after its quarterly earnings and outlook came in well above analysts\u2019 projections. <\/p>\n<div class=\"paywall\">\n<p>Nvidia not only beat expectations, it also addressed several concerns about whether its progress is sustainable. The company said it expects product supply to increase in the next fiscal year, alleviating worries that it won\u2019t be able to meet rising demand for AI chips. <\/p>\n<p>\u201cWith visibility extending into \u201924, [Nvidia] management has qualified additional suppliers\u2026and expects to increase supply each quarter through next year to meet demand,\u201d KeyBanc analyst John Vinh wrote in a research note.\u00a0<\/p>\n<p>Vinh raised his target price on Nvidia to $670 from $620 and kept an Overweight rating on the stock. The new target is based on a forecast price-to-earnings multiple of 35 times for 2025. <\/p>\n<p>Revenue from China was within the company\u2019s historical range of between 20% and 25%, indicating the beat wasn\u2019t driven by Chinese orders being pulled forward over fears of future U.S. restrictions.\u00a0<\/p>\n<p>UBS analysts noted that Nvidia indicated it could reallocate Chinese shipments of its A800 and H800 chips\u2014which have intentionally limited capacity to meet U.S. export restrictions\u2014if required. They kept a Buy rating on the stock and raised their target price to $560 from $540. <\/p>\n<p>Nvidia executives told analysts on an earnings call that additional export restrictions of data center graphics-processing units (GPUs) to China wouldn\u2019t have an immediate material impact on its financial results but would result in a long-term loss of an opportunity for the U.S.<\/p>\n<p>Nvidia wasn\u2019t the only stock gaining in the wake of its report, as investors bet AI will power growth for other hardware and software companies. Chip maker<br \/>\n        Advanced Micro Devices<br \/>\n       (AMD) rose 2.3% in the premarket, while<br \/>\n        Microsoft<br \/>\n       (MSFT) gained 1.8% and Google-parent<br \/>\n        Alphabet<br \/>\n       (GOOGL) rose 1.4%. <\/p>\n<p>However, Nvidia\u2019s outsize gains suggest it looks set to remain the market\u2019s favorite bet on AI technology for now. <\/p>\n<p>\u201cNvidia remains the purest scale play on AI adoption,\u201d<br \/>\n        Oppenheimer<span>\u2019s<\/span><br \/>\n       Rick Schafer wrote in a research note, as he raised his target price on Nvidia to $650 from $500 and kept an Outperform rating on the stock.\u00a0<\/p>\n<p>Competition doesn\u2019t look like an immediate concern. Nvidia executives emphasized the move toward GPUs to power AI tools and away from general-purpose processors. Nvidia is estimated to have around a 90% market share for AI-related GPUs currently. <\/p>\n<p>\u201cStrong competition is important for a healthy innovation ecosystem. The market should want to see another player and should want to see this next digital transformation boom be more pervasive and persistent versus a bubble of irrational exuberance,\u201d said Daniel Newman, CEO of technology research firm Futurum Group.\u00a0<\/p>\n<p>Newman said Nvidia\u2019s report showed there should be opportunities for companies such as AMD and<br \/>\n        Intel<br \/>\n       (INTC) to provide rival AI chip offerings. However, he noted the window for alternatives to grow could be narrowing as Nvidia increases the attractiveness of its own platform via software development and industry partnerships.\u00a0<\/p>\n<p>Intel was up 0.1% in premarket trading. <\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nvidia-stock-earnings-ai-chips-amd-intel-microsoft-google-87703e67?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia shares were surging Thursday as analysts welcomed results showing the artificial-intelligence boom is still powering its growth.\u00a0It also relieved concerns about supply constraints and how far demand is being driven by Chinese customers. Nvidia (ticker: NVDA) stock was up 7.7% to $507.55\u00a0in premarket trading on Thursday after its quarterly earnings and outlook came in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":52380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-52379","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia Stock Is Surging. Its Earnings Cleared Up Concerns Including China. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Nvidia shares were surging Thursday as analysts welcomed results showing the artificial-intelligence boom is still powering its growth.\u00a0It also relieved\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=52379\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nvidia Stock Is Surging. 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