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The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage! NVIDIA mainly produces semiconductors for the graphics and networking segment, which includes chips for data centers, automobiles, and robots. And, the company revealed awesome results for both! Graphics was up 47% from the same period last year. Networking was up 91% year-over-year.
The company is planning to launch new graphics cards for mining cryptocurrencies in March, but CEO Jensen Huang disappointed its customers a bit as he said: “We expect that to be a small part of our business as we go forward”.
Nvidia is going to buy ARM from Softbank for $40 billion, which will boost its semiconductor industry as ARM develops low-power chips — and it supplies technology to most of Nvidia’s competitors. “We are making good progress toward acquiring Arm, which will create enormous new opportunities for the entire ecosystem,” Nvidia CEO Jensen Huang said.
After revealing such great results, Nvidia has no other chance as to rocket to fresh highs! The way up to the high of February 18 at $615.00 is open now. However, this resistance is on the upper trend line, therefore, the price may struggle to escape the current channel. But who knows! Just in case, be aware of support levels at $540.00 and $500.00.
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The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Australia will release employment change and the unemployment rate on Thursday, at 02:30 MT time.
The Federal Open Market Committee (the part of the Federal Reserve) will publish its Meeting Minutes on February 16, at 21:00 MT time.
The United States will publish the producer price index (PPI) on February 15, at 15:30 MT time.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?