Reported 5 months ago
Nvidia's stock rose 9.3% to over $1,000 for the first time, pushing its market cap above $2.5 trillion after reporting first-quarter earnings that exceeded expectations. The company's adjusted earnings per share reached $6.12 on revenue of $26 billion, a substantial increase from the previous year. Nvidia also revealed plans for a 10-for-1 stock split and a higher dividend, following the trend of other tech giants. Despite concerns about demand for its Data Center revenue, Nvidia's CEO expressed confidence in the strong demand for their products. Wall Street analysts raised Nvidia's stock price target to $1,150 and praised the company's competitive edge over rivals.
Source: YAHOO