Key takeout
NVIDIA (NVDA) shares were acquired on Monday and boosted other chip stocks by boosting the tech sector.
NVIDIA shares rose nearly 3% at $133.56 in daytime trading, making it one of the best-performing stocks on the Dow Jones Industrial Average. Several Nvidia partner stocks, including Micron Technology (MU), Dell (Dell), and Supermicro (SMCI), are included in Broadcom (AVGO), Advanced Micro Devices (AMD), Qualcomm (QCOM), W. Other chips such as estran Digital It rose along with the stock. (WDC), and Intel (INTC).
This surge has helped lift the broader high-tech sector. Several other megacap members from the “magnificent 7” stock are on the way. The high-tech Nasdaq has increased by more than 1%, with the S&P 500 up 0.6% and the Dow up 0.2%.
NVIDIA profits have been earned after partner TSMC (TSM) reported a surge in sales, and on Monday, Evercore ISI analysts “tactical outperform” ahead of NVIDIA’s revenue report on February 26th We’ve added chip makers to our list. .
Analysts issued a price target of $190. This is more than 40% above the mid-day price on Monday. The average target for analysts voted by visible Alpha, who has been overwhelmingly bullish despite recent pressures amid the pace of Big Tech’s AI spending, is around $174. , suggesting that it is upside down by about 30%.
