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The Key Takeaways
- Nvidia stock closed at its highest level ever on Monday.
- Foxconn – a Nvidia supplier – reported record revenue in the fourth quarter.
- Jensen Huang, CEO of Tecno-Tel Americas Inc. will also deliver Monday night’s opening keynote address at an important consumer electronics trade show.
Nvidia’s (NVDA), shares closed at a record high on Monday, after Foxconn in Taiwan reported a record-breaking fourth quarter revenue.
Foxconn, a supplier of Apple (AAPL), Nvidia (NVDA), and many others tech giants has posted a fiscal fourth-quarter profit that grew 15 percent year-overyear. This was driven by a booming demand in artificial intelligence.
Nvidia's stock price rose 3.4% to finish at $149.43 Monday, topping its previous record close of $148.88 set Nov. 7. Over the last 12 months, shares have almost tripled in price.
Investors will also be watching for CEO Jensen Huang to deliver his opening keynote on Monday at an important consumer electronics trade show. The event is scheduled to begin at around 9:20 pm ET. ET. Many analysts expect Nvidia will raise its sales projections for Blackwell GPUs. They see this event as an opportunity for growth for the chipmaker.
Visible Alpha has identified 21 analysts who cover the company, but only one does not maintain the aforementioned stance. “buy” or equivalent rating for the stock, with a consensus price target of $177, an 18% premium over Monday's closing price.
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