Nvidia Corp.'s earnings are drawing nearer, and yet another analyst is feeling upbeat heading into the company's report.
Nvidia Corp.’s earnings are drawing nearer, and as another analyst shared upbeat feelings about the chip maker’s upcoming report, the stock drew to within 1% of its closing high.
“Given the pushout of [Advanced Micro Devices Inc’s] AMD, +2.63% MI300X, we believe Nvidia has been able to source increased [chip on wafer on substrate] capacity at Taiwan Semiconductor Manufacturing Co. TSM, +1.60%, ” Vinh said.Shares of Nvidia rallied 8.5% and closed at $469.67, near highs of the day, in Monday trading. That more than made up for three previous straight sessions of declines for a total loss of 1.5%.
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