Nvidia tacked on some $150 billion in market capitalization in early trading after it shattered consensus expectations for quarterly sales and profit in its Wednesday afternoon report, as the chipmaker largely powering the artificial intelligence boom cashes in.
But most impressive from Nvidia were its “cosmological” forecasts for the current quarter, Bernstein analyst Stacy Rasgon wrote Thursday, remarking: “We have never seen a guide like the one Nvidia just put up.”
Analysts’ reactions were unabashedly positive to the report, as FactSet reported 28 bumps to Nvidia stock’s price target over the last 24 hours, none starker than Rosenblatt analyst Hans Mosesmann’s nearly 100% bump from $320 to $600, implying 38% upside from Nvidia’s $375 share price Thursday.
