'Nvidia's AI Dominance: Earnings Report and Valuation Concerns'
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Description
**Nvidia (NVDA) Analysis** 1. **Current Price and Intraday Trading Range**: As of November 13, 2024, Nvidia's stock price is $146.99, with an intraday high of $149.65 and low of $146.01...
show more1. **Current Price and Intraday Trading Range**: As of November 13, 2024, Nvidia's stock price is $146.99, with an intraday high of $149.65 and low of $146.01 on November 12, 2024[1][5].
2. **Pre-market and After-hours Movement**: No specific pre-market or after-hours data is provided in the available sources.
3. **Trading Volume vs Average**: The trading volume on November 12, 2024, was 194.57M, which is slightly above the average volume seen in the recent days[1].
4. **Recent News or Announcements**: There have been no major news or announcements in the last 24 hours. However, the upcoming earnings report on November 20, 2024, is crucial for maintaining the stock's momentum[4].
5. **Major Analyst Updates or Price Target Changes**: Recent analyst updates include Piper Sandler increasing its price target to $175 and UBS raising its target to $185, citing strong demand for AI chips and the upcoming Blackwell chip launch[4].
6. **Options Flow Activity**: No specific options flow activity data is provided in the available sources.
7. **Related Semiconductor/AI Sector News**: The AI sector continues to drive growth for Nvidia, with high expectations for the upcoming earnings report. Competition from Amazon's Trainium 2 chips and increased presence from AMD and Broadcom in AI hardware could impact Nvidia's market share and pricing power[4].
8. **Key Technical Indicators for Day Trading**: Key technical indicators include the stock's all-time high of $149.77 on November 7, 2024, and its current trading near a record high of $145.26. The stock's valuation is at a premium, with a trailing P/E of 68.20 and forward P/E of 38.8x, making it sensitive to any signs of slowing demand[2][4].
**Market Sentiment**: The overall market sentiment is bullish, with analysts expecting strong Q3 results and continued growth driven by AI demand. However, high valuation and potential risks from supply constraints and increased competition introduce caution. The upcoming earnings report on November 20, 2024, is pivotal for justifying the stock's premium valuation[4].
Information
Author | QP-4 |
Organization | William Corbin |
Website | - |
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