Shulou(Shulou.com)11/24 Report--

On the evening of August 16, Beijing time, Nvidia closed up 0.43% yesterday. As of press time, it was up 0.5% before trading. The company will release its quarterly earnings report next week after two securities firms raised their share price targets for the company, further raising already high expectations.

The world's largest semiconductor company by market capitalization has been at the centre of a rise in technology stocks this year, driven by positive optimism about the potential of artificial intelligence and demand for components that drive AI technology. This week, Nvidia is up 9%.

Nvidia was one of three stocks that rose in the Philadelphia semiconductor index on Tuesday. Earlier, better-than-expected US retail sales data raised concerns that interest rates could remain high for a long time, causing unease in the stock market.

"as large amounts of capital and new financing instruments chase new artificial intelligence software and professional cloud infrastructure models, Nvidia is actually playing the role of 'kingmaker'," UBS analyst Timothy Arcuri wrote in a research note.

On the 24th of this month, Nvidia will release its second quarterly report. As an outpost, Arcuri raised its share price target to $540 from $475, while Wells Fargo raised its share price target to $500 from $450. On Monday, Morgan Stanley listed Nvidia as its "first choice".

Aaron Rakers, an analyst at Wells Fargo, wrote in his research note: "We find it difficult to deny Nvidia's superior position as its main beneficiary in the transformation of data centers driven by artificial intelligence."

On May 25th, Nvidia shares soared 24 per cent. Earlier, the company's second-quarter revenue forecast was more than 50 per cent higher than Wall Street expected, driven by demand for its artificial intelligence chips that drive ChatGPT and similar services.

Analysts generally expect Nvidia's quarterly revenue to rise 66 per cent to $11.13 billion, while Nvidia's own quarterly revenue forecast is $11 billion, up or down 2 per cent, according to financial market data and infrastructure provider Refinitiv.

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