Nvidia Reverses Higher; Is Nvidia A Buy?
Nvidia (NVDA) fell Monday after a bearish reversal Friday. But the stock was trying to bounce back from its 10-day moving average Tuesday. Is Nvidia a buy now?
Shares soared after earnings were announced Feb. 21, touching an all-time high of 974 on Friday. Shares remain extended from their key moving averages.
Nvidia delivered yet another beat-and-raise quarter in February. Earnings of $5.16 per share on sales of $22.1 billion beat views of $4.59 earnings per share and $20.4 billion in sales.
Earlier, the company observed that limited supply of AI chips as the biggest challenge to growth. Customers may also wait for the next generation B100 chip that is expected in the coming quarters. Baird analysts saw this as a good thing. B100 chips will have better performance and will likely have a higher average selling price.
The AI-chip maker also disclosed its recent stakes in several smaller AI plays in a filing with the Securities and Exchange Commission. $NVIDIA(NVDA.US$
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