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 in 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:
- EVENT: NVIDIA GTC 2024 (MARCH 18 – MARCH 21): Nvidia GTC (GPU Technology Conference) is a global AI conference for developers that brings together developers, engineers, researchers, inventors, and IT professionals. Topics focus on artificial intelligence (AI), computer graphics, data science, machine learning and autonomous machines. Each conference begins with a keynote from Nvidia CEO and Founder Jensen Huang, followed by a variety of sessions and talks with experts from around the world. NVIDIA could be making some announcements regarding the industry and new products.
Analysis:
- Q4 EARNINGS REPORT (FEBRUARY 21, 2024 AFTERMARKET): REVENUE (BEAT): $22.1 Billion vs $20.412 Billion, EARNINGS PER SHARE (BEAT): $5.16 vs $4.603, FORWARD GUIDANCE (Q1 REVENUE - BEAT): $24 Billion vs $21.5 Billion
- NVIDIA MARKET CAPITALIZATION GREW BY MORE THAN $1 TRILLION IN 2024 ALONE, A NEW RECORD – THIRD LARGEST COMPANY IN THE WORLD: Nvidia’s stock price has risen around 96% since the beginning of 2024 making NVIDIA the third largest company in the world by market capitalization putting it ahead of both Amazon and Google.
Price Action -
- ANALYSTS OPINIONS: Rosenblatt Securities: $1400, KeyBanc Capital: $1100, Bernstein: $1000.
- STOCK PRICE POTENTIAL: NVIDIA was last trading at $865, with Rosenblatt Securities targeting $1400, indicating a potential upside of ~62% should these forecasts materialize. However, the price could also decline further.
Nvidia, March 11, 2024
Current Price:865.00
|
NVIDIA |
Weekly |
|
Trend direction |
|
|
1400.00 |
|
|
1100.00 |
|
|
940.00 |
|
|
795.00 |
|
|
785.00 |
|
|
775.00 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Profit or loss in $ |
535,000.00 |
235,000.00 |
75,000.00 |
-70,000.00 |
-80,000.00 |
-90,000.00 |
|
Profit or loss in €² |
489,315.10 |
214,932.80 |
68,595.57 |
-64,022.54 |
-73,168.61 |
-82,314.69 |
|
Profit or loss in £² |
417,041.81 |
183,186.59 |
58,463.81 |
-54,566.22 |
-62,361.39 |
-70,156.57 |
|
Profit or loss in C$² |
722,204.53 |
317,230.03 |
101,243.63 |
-94,494.05 |
-107,993.20 |
-121,492.35 |
- 1.00 lot is equivalent of 1000 units
- Calculations for exchange rate used as of 13:00 (GMT) 11/03/2024
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail