Nvidia Corp.’s shares are roaring back after the company successfully calmed investor concerns about product delays and its long-term growth prospects. Recent strength came after CEO Jensen Huang said Nvidia’s Blackwell chip “is in full production,” and that demand for it “is insane,” comments that came after Blackwell was delayed due to engineering snags, prompting a selloff that has now been erased. The Street has continually raised estimates for Nvidia’s earnings and profit over the past quarter. Nvidia’s strong growth prospects have kept its valuation in check, helping bulls support their case to keep buying. “But so long as Nvidia executes on its product road map, that will drive the kind of healthy growth that keeps the stock attractive.”

Source: Mint October 15, 2024 16:19 UTC