Nvidia Up 30% Today (11/16)

Over the past six months, ETF PM has written six blogs about Nvidia (NVDA) including a recent comparison to our strong Tesla recommendation in 2013. Today, NVDA was up 30% on “blowout earnings” giving the stock a gain of 190% over the trailing 12-month period.

ETF PM currently has long positions in NVDA.

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How Machine Learning Fueled Nvidia Stock’s 15% Jump

Aaron Pressman, 11/10/16

Revenue was up 54% from last year and beat analysts’ expectations by over $300 million.

Nvidia used to be a little company making graphics chips for PCs, but it’s well on the way to transforming into one of the leading computing platforms for cloud servers, machine learning, and artificial intelligence.

Fortunately for Nvidia, it turns out that the kinds of tasks graphics chips are good at—like processing many, many simple calculations at the same time—are just what’s needed to run analysis programs in a cloud data center, steer a self-driving car, or pilot an automated drone.

Thursday brought more evidence that the company’s successful transition is in full swing. Nvidia reported third quarter results that blew through Wall Street expectations, and its stock price, which had already doubled this year, rose another 15% in after-hours trading.

Revenue of $2 billion was up 54% from last year and beat analysts’ expectations by over $300 million. Adjusted earnings per share of 94 cents walloped the average analyst estimate of 57 cents.

Click here for the full article.

 

 

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