Analysts overhaul Nvidia stock price targets after Q2 earnings

Analysts overhaul Nvidia stock price targets after Q2 earnings

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Nvidia shares slipped in early Thursday trading, but pared the worst of their post-earnings declines, as a host of Wall Street analysts rushed to update ratings and price targets on the AI-chip maker following its highly anticipated July-quarter update.

Nvidia (NVDA) , which holds a commanding lead in the production of chips and processors that power AI systems worldwide, posted record revenue of $30.04 billion for its fiscal second quarter and saw profit more than double from the year-earlier period to 68 cents a share.

The group also suggested that current-quarter revenue would continue to improve, albeit at a slower pace, as it forecast a top-line tally of $32.5 billion Continue Reading..