{"id":84235,"date":"2023-11-14T02:03:11","date_gmt":"2023-11-14T07:03:11","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/nvidias-stock-notches-longest-winning-streak-in-seven-years-with-all-time-high-in-view\/"},"modified":"2023-11-14T02:03:13","modified_gmt":"2023-11-14T07:03:13","slug":"nvidias-stock-notches-longest-winning-streak-in-seven-years-with-all-time-high-in-view","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84235","title":{"rendered":"Nvidia\u2019s stock notches longest winning streak in seven years, with all-time high in view"},"content":{"rendered":"
\n

Nvidia Corp. shares on Monday secured their longest winning streak in nearly seven years as they hovered near their all-time high. <\/p>\n

The chip giant earlier Monday introduced its new artificial-intelligence chip, promising significant performance improvements relative to the prior model. <\/p>\n

\n

The H200 is the first graphics-processing unit from Nvidia
\n NVDA,
\n +0.59%<\/bg-quote>
\n to feature HBM3e memory, giving it more bandwidth and capacity and highlighting \u201cthe importance of memory in next-gen AI workloads,\u201d according to Wells Fargo analyst Aaron Rakers. <\/p>\n

Nvidia \u201chas not refreshed prior datacenter GPUs in the past, so this represents further evidence of [Nvidia] accelerating their product cadence in response to AI market growth and performance requirements, which further expands their competitive moat,\u201d Wolfe Research analyst Chris Caso noted.<\/p>\n

Shares of Nvidia rose 0.6% in Monday trading to notch their ninth session in a row of gains. That made for the stock\u2019s longest winning streak since Dec. 27, 2016, when it rose for 10 trading days in a row, according to Dow Jones Market Data. <\/p>\n

The stock has advanced more than 19% during the current nine-session stretch. <\/p>\n

Opinion:<\/strong>\u00a0This Nvidia partner has seen its stock surge 200% this year. But investors may be overlooking a risk.<\/p>\n

Nvidia shares, which closed Monday at $486.20, are hovering 1.5% below their all-time closing high of $493.55, which was achieved Aug. 31.<\/p>\n

Mizuho desk-based analyst Jordan Klein weighed in Monday on Nvidia\u2019s rally over the past week, writing that the gains in shares of Nvidia, Broadcom Inc.
\n AVGO,
\n -1.11%<\/bg-quote>
\n and Taiwan Semiconductor Manufacturing Co.
\n 2330,
\n +0.18%<\/bg-quote>
\n seemed to reflect traction among \u201creal\u201d long-only investors and retail buyers, while gains for Advanced Micro Devices Inc.
\n AMD,
\n -1.52%<\/bg-quote>
\n and chip-equipment shares seemed more like a short squeeze. <\/p>\n

Nvidia shares have enjoyed a 233% climb so far this year. The company is due to report fiscal third-quarter earnings Nov. 21 after the closing bell.<\/p>\n

See also: <\/strong>AMD just delivered a \u2018revelation.\u2019 Why some on Wall Street still have pause.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nvidia Corp. shares on Monday secured their longest winning streak in nearly seven years as they hovered near their all-time high. The chip giant earlier Monday introduced its new artificial-intelligence chip, promising significant performance improvements relative to the prior model. The H200 is the first graphics-processing unit from Nvidia NVDA, +0.59% to feature HBM3e memory, […]<\/p>\n","protected":false},"author":1,"featured_media":84236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-84235","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nNvidia\u2019s stock notches longest winning streak in seven years, with all-time high in view | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Nvidia Corp. shares on Monday secured their longest winning streak in nearly seven years as they hovered near their all-time high. 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