As we noted Feb. 8, “As Nvidia nears its earnings release on February 21, the stock could rally even higher. With the momentum it’s seeing, it could easily hit our $1,000 price target soon.”
At the time, NVDA traded at around $695.
This morning, the stock is set to open about $88 higher at $761.
All thanks to blowout earnings and guidance.
Adjusted EPS came in at $5.16, as compared to expectations for $4.64. Revenue of $22.1 billion was also above expectations for $20.62 billion. For its current quarter, the company expects to see sales of $24 billion as compared to estimates for $22.2 billion. That’s up significantly from the $7.19 billion in sales posted a year earlier.
Plus, according to CFO Colette Kress, the supply of current artificial intelligence GPUs is improving and demand is strong. Plus, the company expects its “next-generation products to be supply constrained as demand far exceeds supply,” as noted by Barron’s.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
🔔 Subscribe to Behind the Markets for more insights and updates on financial trends and market analysis!
✅ SUBSCRIBE TO THE CHANNEL 👇🏼👇🏼
https://www.youtube.com/channel/UCczJ4YRRQLl6KrH06iapaRw?sub_confirmation=1
✅ VISIT OUR WEBSITE 👇🏼👇🏼
https://behindthemarkets.com/](https://behindthemarkets.com/wp-content/plugins/youtube-feed-pro/img/placeholder.png)
