Nvidia Hits $138 Record High, Driving Global Chip Stocks
Nvidia stock price, for the first time, made a spectacular leap on a Monday to close at $138.07, a 2.4% gain, to reap the rewards of the growing AI market and the GPUs market. Thus, this increase, which followed the ascent it had reached in June, elevated the entity’s market capitalisation to a figure that is only slightly behind Apple’s, the rival in the market, at the second position on Wall Street and of a whopping $3.4 trillion.
The growth of Nvidia has had an impact on Asian chip stocks as well. SK Hynix, a major supplier of high-bandwidth memory chips used in Nvidia’s AI products, increased its stake by 2.8%. Besides, other chipmakers have also seen some encouraging settings as the breezy attitudinal mood connected with Nvidia’s AI-driven technologies was disseminated to the whole sector.
The analyst built this report with more confidence than the investment in other US technology titans such as Microsoft, Meta, Google and Amazon, all of which use the GPUs of Nvidia for their AI operations. Before Nvidia’s stock spike, the stock had either been moving downward or may stagnate. The schedule of the earlier decline of the Q2 financial results, despite the fact that they exceeded analysts’ expectations, threw the stock up in the air and kept the profit numbers down. “The stock of Nvidia during this year is the best choice for the computing hardware investment market,” since Nvidia’s products are by far the best, and they are very important for the transformations in AI and near-space technologies.
The total stock that the investors held until the current year was 180%; this indicates Nvidia’s core position in the AI hardware market and its vital role in developing next-generation technologies.
Can TSMC’s Earnings Boost Nvidia’s AI Surge or Signal a Slowdown?
Taiwan Semiconductor Manufacturing Co. (TSMC), the main driver behind Nvidia’s GPUs, is in preparation for a new disclosure of its financial status, which it will do on Thursday. Analysts are looking forward to a 40% increase in profits, partly due to the expansion of the demand for AI data centers, which makes the revenues of Nvidia swell to be as high as $126 billion for the year. In the meantime, although Nvidia’s extraordinary performance has made a significant contribution to the S&P 500’s record-breaking rise, there are still some cautious investors who require more convincing proof of the sustainability of AI-oriented growth.
Nvidia has just gone through an almost unbelievable decline in September when its stock price saw a sharp nosedive, leading to a loss of $279 billion in market cap. The worries about the fact that returns on investments in AI are not turning out as fast as it was hoped, the plunge was the main reason for enthusiasm fading. Nevertheless, while AI takes a prominent place in industry discussions, investors are keeping a close eye on whether Nvidia’s influence can continue, given the continuing state of unpredictability.
Nvidia Stock Price Chart Analysis
NVDA/USD 15 Minute Chart
NVIDIA (NASDAQ: NVDA) opened at $138.85 today, October 15, and has experienced a small decrease, which resulted in its price being now at $138.18, down 0.49% or $0.68.
Previously, the stock was even higher than $139, but it has since gone down somewhat, displaying some volatility in the morning session. The investor activity has been solid but not overpowering, with a trading volume of 1.665 million shares.
In our opinion, the current rather sharp movement in the market mirrors a conservative approach towards the stock that might also be due to uncertainties in the larger market or general tech sector. Specifically, the hardware technology that the company has developed around artificial intelligence and high-performance computing allows it to maintain its superior position in the market and thrive in the years to come.
In terms of growth, we think NVIDIA will do well, mainly because of the higher need for AI technologies. However, price swings in the short term may likely be a result of selling after hitting the objective or larger economic factors. We will be on the lookout for new earnings reports and market trends. At present, we expect the stock to rise to $136 before some resistance might be seen when the stock gets near the $140 mark.
If you need to cash in on the power of Nvidia stock, which is on the rise, then now is the best time to go.
First Majestic Silver Corp (AG) Chart Stock Analysis
AG/USD 15 Minute Chart
We have been closely monitoring First Majestic Silver Corp. (AG) and the stock has displayed some interesting movement lately. On October 15, AG began trading at $6.50, reaching $6.53 at its highest point, and when the day ended, its price was unchanged; that is it, we gained 0.38%. Trading volume was relatively low, with only 36.4K shares traded, indicating limited activity but some optimistic character that drove it up.
October 10-11, we took a very good run at AG by only just below $6.40 to go near $6.70. Despite this, the stock went back to about $6.30 on October 14, most likely because there was some profit-taking or investors were hesitant after the initial surge in the stock price.
Currently, AG is consolidating, almost balanced between the $6.30 support level and the $6.70 resistance level. The recent recovery portends that we may have an imminent upward move again; however, to verify this strong
momentum, the stock must break that $6.70 level. We are monitoring the trading volume and any recent corporate development, which could take the price either way.
Keep up-to-date on market trends and profit reports to consider these probable profits!
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