[ad_1]
© Reuters. Investing.com – Nvidia climbed Wednesday after a Wall Street analyst backed the chip maker to leave rivals behind him, his growth story still in its infancy.
The benchmark analyst, Ruben Roy, initiated a hedge of the stock with a purchase note and a price target of $ 210, suggesting an increase of more than 25% over the closing price of $ 167.87 per share. Eve.
Nvidia (NASDAQ 🙂 climbed 2.1% in the afternoon session. It is up 28.4% over the year and 4.4% in the third quarter.
Nvidia is "uniquely positioned" to grow at a compound annual rate faster than its competitors and is part of the "first heats" of its growth history due to "the increasing use of GPUs on a diverse set of markets growing, "said Roy.
Earlier this week, Microsoft (NASDAQ 🙂 announced that it would use Nvidia's RTX video graphics units to spice up images of its popular "Minecraft" game.
Semiconductors have been a hot group this year. The rise was nearly 1% on the day, bringing its gains for the year to about 31%.
Fusion Media or anyone involved in Fusion Media will not accept any liability for loss or damage arising from the use of the information, including data, quotes, graphics and buy / sell signals contained in this site Web. Please be fully aware of the risks and costs associated with financial market transactions. This is one of the most risky forms of investing possible.
[ad_2]
Source link