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Ryan McQueeney

Here's Why Nvidia (NVDA) Stock Is Gaining Today

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Shares of Nvidia (NVDA - Free Report) are up nearly 3.3% on Tuesday as its solid metrics, along with a pair of new low-price graphics cards, continue to push the stock higher. This Zacks Rank #1 (Strong Buy) stock is showing no signs of stopping as it breaks into a new 52-week range.

According to Korean computer site hwbattle.com, Nvidia is preparing to release two new graphics processors by the end of the year. The new cards will be low-cost, low-performance options aimed at cutting in to Advanced Micro Devices’ (AMD - Free Report) share of the value market.

Both of the new processors will be based on a chip that Nvidia codenames GP107. The first, titled the “GeForce GTX 1050 Ti,” is expected to include four gigabytes of GDDR5 video memory and will retail for $149. The second, apparently dubbed the “GeForce GTX 1050,” will include just two gigabytes of video memory and will retail for $119.

According to hwbattle.com, Nvidia is aiming for a mid-October launch for the Ti version, while the regular version will launch in late-October.

Nvidia remains one of the strongest large-cap stocks on the Zacks Rank #1 (Strong Buy) list. Not only is the stock breaking into a new range, but it also falls into a strong semiconductors industry that currently sits in the top 9% of the Zacks Industry Rank.

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