Reported 5 months ago
Nvidia's stock surged 9% to over $1,000 following better-than-expected earnings in the first quarter, with a market cap exceeding $2.5 trillion. The company's adjusted earnings per share jumped 461% to $6.12, and revenue increased by 262% to $26 billion compared to the previous year. Nvidia also announced a 10-for-1 stock split and a dividend hike, aligning with other major tech companies. Despite concerns about Data Center revenue from hyperscalers, Nvidia reported significant growth in this segment to $22.6 billion, accounting for 86% of total revenue. Following the positive results, JPMorgan analysts raised their price target on Nvidia stock to $1,150.
Source: YAHOO