Nvidia's Stock Nears All-Time High Ahead of Positive Q3 Report
Nvidia's stock is on a strong trajectory, with analysts predicting a positive or very positive quarterly report in late October. The Nvidia stock price is nearing its all-time high, currently hovering around 159.16 euros, just a few euros shy of its peak of 162.20 euros.
Nvidia's stock has been on a remarkable run, leaving behind previous highs like the GD50, GD100, and GD200. Despite a recent slowdown in its fight for a new high, technical analysts remain optimistic, with all trend indicators turning bullish. Sentiment indicators also reflect this positivity, with excellent readings across the board.
Nvidia's resurgence is attributed to its comeback in AI development, particularly in China. Once considered a loser in this field, the company has since proven its mettle, becoming the most expensive stock globally based on market capitalization, worth around 4.5 trillion dollars. This success has even positioned Nvidia to potentially become the company with the largest market capitalization worldwide by 2025.
A positive quarterly report from Nvidia could further boost its Nvda stock, potentially setting the stage for another run at a new all-time high. Despite the recent slowdown, the company's strong fundamentals and positive indicators suggest a bright outlook for investors.
