NVIDIA’s stock surged to an all-time high on Monday following Foxconn’s announcement of record-breaking fourth-quarter sales.
Shares of NVIDIA rose by 3.43%, closing at $149.43, surpassing the previous record of $148.88 set on November 7. Over the past year, the stock has nearly tripled in value.
This surge is attributed to Foxconn, a major supplier for tech giants like NVIDIA and Apple. The company reported a 15% year-over-year increase in Q4 sales, driven by strong demand for AI technologies.
Investors eagerly await CEO Jensen Huang’s keynote address at CES 2025 in Las Vegas.
Market analysts predict that NVIDIA will raise sales projections for its Blackwell GPU, with CES as a key event for its growth.
During his keynote, Huang is expected to provide more details about Blackwell, NVIDIA’s next-generation AI-specific chip.
Bank of America analyst Vivek Arya believes CES could provide positive momentum for NVIDIA’s stock.
“While the big themes have already been mentioned in the media ahead of the event, we still see CES as a positive catalyst, re-asserting NVDA’s platform dominance/opportunity in high-growth markets,” Arya said, maintaining a “buy” rating with a $190 price target.
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