"The last week of October, NVIDIA became the first publicly traded company to surpass a market cap of $5 trillion. In July, the AI chipmaker became the first publicly traded company to hit a $4 trillion market cap in early July. That achievement came just one month after surpassing both Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) in market cap as members of the $3 trillion market cap club."
"When the company reported Q3 earnings on Nov. 19, it beat on the top and bottom lines when it announced record revenue of $57.0 billion and diluted earnings per share (EPS) of $1.30, both of which exceeded analyst expectations. Data center revenue was the primary growth driver, reaching a record $51.2 billion, which marked a 66% year-over-year increase."
"In September, the company announced plans to invest up to $100 billion in OpenAI. As a result, Evercore raised its price target on NVIDIA to $225 from $214 while keeping an "Outperform" rating, citing the OpenAI deal as the impetus, while Barclays raised its price target to $240 from $200, maintaining its "Overweight" rating."
Shares of NVIDIA lost 4.95% over the past five trading sessions after a prior 2.08% gain, leaving the stock down 14.85% since an Oct. 29 all-time high while still up more than 27% year-to-date. Q3 results reported Nov. 19 showed record revenue of $57.0 billion and diluted EPS of $1.30, led by data-center revenue of $51.2 billion, a 66% year-over-year increase. NVIDIA achieved historic market-cap milestones, surpassing $4 trillion in July and $5 trillion in late October. The company announced plans to invest up to $100 billion in OpenAI, prompting broker price-target increases. Long-term share gains have been extraordinary.
Read at 24/7 Wall St.
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