NVIDIA Corporation (NVDA - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on Friday. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $193.66 to $212.03 in the past one-month time frame.
The upside was driven by increased demand for graphics chips, as well as growth for the Volta chips looks promising in the near term.
The company has seen four positive estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved higher over the same time frame, suggesting that more solid trading could be ahead for NVIDIA. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
NVIDIA currently has a Zacks Rank #1 (Strong Buy), while its Earnings ESP is positive.
Another stock worth considering in the Semiconductor - General industry is Intel Corporation (INTC - Free Report) , which carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Is NVDA going up? Or down? Predict to see what others think: Up or Down
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