DecentralandNvidia approaches $1T market cap as Wall Street praises 'jaw dropping guidance'
Seeking Alpha
•4 days ago
Nvidia (NVDA) shares surged more than 25% in pre-market trading on Thursday after the semiconductor giant posted first-quarter results and guidance that stunned investors. Read for more.
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Nvidia's stock price surged to a record high of $269.80 on Wednesday after the company reported 'jaw dropping' quarterly results that surpassed Wall Street estimates, pushing the chip maker's market capitalization to a staggering $1 trillion. The strong performance was fueled by the company's gaming business, which saw revenue jump 45 percent year-over-year, as well as its data center division, which reported a 120 percent increase in sales. Analysts are praising Nvidia for its strong guidance for the 2021 fiscal year, with some projecting the company's market cap could reach as high as $1.3 trillion in the next 12 months.
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