Nvidia stock on meteoric rise. Will earnings keep up?

U.S. chipmaker Nvidia's shares have reached record highs due to optimism about the potential of artificial intelligence. The company's near-monopoly on AI chips has led to a rapid pace of profit growth, with its share price nearly doubling this year. The average target calculated by QUICK-FactSet rose from $674 at the end of January to $893 after Nvidia's Feb. 21 earnings release, with shares closing at $926.69 on Thursday.

Analysts are struggling to keep up with the fast-moving stock, with Mizuho Securities' U.S. arm raising its target from $850 to $1,000. The rapid growth and high demand for AI technology are driving Nvidia's success, with investors anticipating continued growth.

Key takeaways

U.S. chipmaker Nvidia's shares have reached record highs due to the potential of artificial intelligence.
The average target calculated by QUICK-FactSet rose from $674 at the end of January to $893 after Nvidia's Feb. 21 earnings release.
Shares have already jumped past this, rising 4% to close at $926.69 on Thursday.
Mizuho Securities' U.S. arm on Tuesday lifted its target from $850 to $1,000.

Nvidia stock on meteoric rise. Will earnings keep up?

Key takeaways

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