Results from tech giants largely underwhelmed this earnings season — but they included plenty of good news for Nvidia Corp.
Allan Small, senior investment advisor of IA Private Wealth, joins BNN Bloomberg to share insights on how to approach investing in Nvidia, and Eli Lilly.
“If you’re owning Nvidia, the big buyers out there need to keep buying and every quarter they need to buy more,” said Mike Bailey, director of research at Fulton Breakefield Broenniman. “You can check that box.” Wall Street analysts are overwhelmingly positive on Nvidia, with 67 of the 75 analysts tracked by Bloomberg rating the stock a buy. They’ve also continued to boost estimates, with profit forecasts for next year up about 10% over the past three months, according to data compiled by Bloomberg. That’s helped temper Nvidia’s valuation, which is now around 39 times forward earnings, down from last year’s peak of more than 60 times.
“Microsoft, Alphabet, Amazon, and Meta account for almost half of all AI spending, and their strong balance sheets and willingness to invest will likely continue to support strong growth in AI spending,” said Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management.
Business Company News Industry Markets North America Semiconductors Stock Market News Commercial Services Technology Telecom Communications Top News Unites States World Top World
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No clear winner in B.C. election, Conservative leader says province 'changed forever'VANCOUVER — B.C. Conservative Leader John Rustad says the political landscape in the province has 'changed forever' after his party pushed the incumbent New Democrats to the brink, in an election that was too close to call late Saturday.
Read more »
No clear winner in B.C. election, Conservative leader says province 'changed forever'VANCOUVER — B.C. Conservative Leader John Rustad says the political landscape in the province has 'changed forever' after his party pushed the incumbent New Democrats to the brink, in an election that was too close to call late Saturday.
Read more »
No clear winner in B.C. election, Conservative leader says province 'changed forever'VANCOUVER — B.C. Conservative Leader John Rustad says the political landscape in the province has 'changed forever' after his party pushed the incumbent New Democrats to the brink, in an election that was too close to call late Saturday.
Read more »
No clear winner in B.C. election, Conservative leader says province 'changed forever'VANCOUVER — B.C. Conservative Leader John Rustad says the political landscape in the province has 'changed forever' after his party pushed the incumbent New Democrats to the brink, in an election that was too close to call late Saturday.
Read more »
AMD debuts new AI chip to lackluster Wall Street enthusiasmAdvanced Micro Devices (AMD) presented its new Instinct MI325X AI chip at its Advancing AI 2024 conference on Thursday, the semiconductor manufacturer...
Read more »
IMF lifts US growth forecast but marks down China; sees lackluster global economyThe International Monetary Fund on Tuesday raised its 2024 economic growth forecasts for the U.S., Brazil and Britain but cut them for China, Japan and the...
Read more »