Semiconductor stocks are rising today, with the Philadelphia Semiconductor Index () gaining 1.4% on a day when the Nasdaq is up 0.4%. Chipmaker Nvidia () is outpacing those gains, up 2.7% to $171.82 a share in recent market action.
Earlier today, the stock hit an all-time high of $172.14.
As my colleague Teresa Rivas noted in the Sector Focus blog, Nvidia is set to . Ahead of that event, B. Riley analyst Craig Ellis has hiked his price target for the stock by almost 50%, from $135 a share to $200 a share, in anticipation of strong execution.
NVDA reports F2Q18 results Thursday, 8/10 AMC. We expect strong execution from the Auto, Data Center acceleration, and Gaming leader. Specifically we see potential for $50‐$90MM of upside to Street F2Q estimates of $1.964B (+1.3%)/$0.81 in a seasonally variable quarter and a beat versus Street $2.141B(+9.0%) /$0.92 in the seasonally stronger F3Q. Our F2Q basis is led by Gaming where four drivers ‐new products, an on‐track portable console...
More