NVIDIA Corporation | $NVDA Stock | Shares Shoot Up On Record Revenue & Earnings Numbers

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NVIDIA Corporation  (NASDAQ: NVDA)

 

 

NVIDIA Corporation (NVDA), a global visual computing company yesterday reported their fiscal 2017 third quarter financial results. NVIDIA reported third quarter earnings of $0.83 per share up 89% from the same quarter last year. NVIDIA reported third quarter revenues of $2.00 billion which was up 54% from the same quarter last year.   

 

NVIDIA Corporation CEO’s Comments

“We had a breakout quarter – record revenue, record margins and record earnings were driven by strength across all product lines,” said Jen-Hsun Huang, founder and chief executive officer, NVIDIA. “Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing.

“We have invested years of work and billions of dollars to advance deep learning. Our GPU deep learning platform runs every AI framework, and is available in cloud services from Amazon, IBM, Microsoft and Alibaba, and in servers from every OEM. GPU deep learning has sparked a wave of innovations that will usher in the next era of computing,” he said.  Market Wired

 

NVDA Technical Analysis

nvda-chart

NVDA opened trading yesterday at $71.49 which was up from the previous day’s trading close of $69.96. NVDA closed trading yesterday at $67.77 and spiked up after market to $77.55, equivalent to a 14% increase from the closing price. Taking a look at the daily chart we can see that we are in unchartered territory as NVDA is currently trading at all time highs. Taking a closer look at the daily chart we can see that before the spike up NVDA had already been in an overall upward trend dating back to May 12th when it traded at $35.57. AVID has a float of 509.1 million shares and traded 1.76 times the normal daily trading volume on Thursday. For trading purposes, I would like to see AVID open trading on Friday above $74.35 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.50 from my entry position fearing anything more than that and the stock would start to fill in the gap up. My friend Ross over at Warrior Trading is applying his Day Trading Strategies to these types of stocks.

 

Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for deep learning, accelerated computing, and general purpose computing; and GRID for cloud-based streaming on gaming devices. The Tegra Processor segment provides processors that integrate a computer onto a single chip under the Tegra brand name; DRIVE automotive computers, which offer supercomputing capabilities; and tablet and portable devices for mobile gaming under the SHIELD name. The company’s products are used in gaming, professional visualization, datacenter, and automotive markets. It sells its products primarily to original equipment manufacturers, original design manufacturers, system builders, motherboard manufacturers, add-in board manufacturers, and retailers/distributors. NVIDIA Corporation was founded in 1993 and is headquartered in Santa Clara, California.   Yahoo Finance

 

 

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