Nvidia (#NVDA) weekly special report based On 1 Lot Calculation:
- AI: ACCORDING TO THE INTERNATIONAL DATA CORPORATION, COMPANIES WILL SPEND $500 BILLION BY 2027, WHICH COULD SEE DEMAND FOR NVIDIA AI PROCESSING PRODUCTS: Nvidia holds around 87% of the AI Processing market as of Q2 23. Nvidia chips are a critical part of the development of artificial intelligence products.
- NVIDIA IN AI WORLD: Nvidia’s H100 GPU chip is one of the most critical tools in artificial intelligence with Nvidia the only company that produces a chip of this kind. Nvidia takes up 95% of the graphics processors used for machine learning.
The Company -
- NVIDIA develops and produces three-dimensional graphics processors and other related software. Additionally, the company also produces graphics processing units, which is a critical component when developing artificial intelligence and self-driving autonomous vehicles.
Events and Analysis:
- EVENT Q4 EARNINGS REPORT (EXPECTED FEBRUARY 21, 2024): Nvidia is on track for potential record annual revenue and earnings, with revenue expected to be 232% higher to $20.09B than the previous year while earnings could grow 602% to $11.25B.
- META ANNOUNCES THE PURCHASE OF 350,000 NVIDIA CHIPS IN 2024 WORTH OVER $9 BILLION: Meta is expected to buy around 350,000 H100 Nvidia chips to further develop its artificial intelligence. The order reinforces Nvidia’s dominant position within the GPU processor market and an order of this size is expected to improve Nvidia’s performance substantially.
Price Action -
- ANALYSTS OPINIONS: HSBC has a price target of $800. BNP is targeting $745. Wells Fargo is targeting $675. JP Morgan is targeting $650. The Bloomberg Consensus target is $660.48
- STOCK PRICE POTENTIAL: NVIDIA was last trading at $595, with the Rosenblatt Securities targeting $1100, indicating a potential upside of about 84% should these forecasts materialize. However, the price could decline further.
Nvidia, January 23, 2024
Current Price: 595.00
NVIDIA |
Weekly |
Trend direction |
|
1100.00 |
|
850.00 |
|
670.00 |
|
530.00 |
|
520.00 |
|
510.00 |
Example of calculation based on weekly trend direction for 1 Lot1
NVIDIA |
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Pivot Points |
||||||
Profit or loss in $ |
505,000.00 |
255,000.00 |
75,000.00 |
-65,000.00 |
-75,000.00 |
-85,000.00 |
Profit or loss in €2 |
463,604.73 |
234,097.44 |
68,852.19 |
-59,671.90 |
-68,852.19 |
-78,032.48 |
Profit or loss in £2 |
396,692.92 |
200,310.28 |
58,914.79 |
-51,059.48 |
-58,914.79 |
-66,770.09 |
Profit or loss in C$2 |
680,467.30 |
343,602.30 |
101,059.50 |
-87,584.90 |
-101,059.50 |
-114,534.10 |
- 1.00 lot is equivalent of 1 000 units
- Calculations for exchange rate used as of 09:25 (GMT) 23/01/2024
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