Nasdaq NVDA Nvidia

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The S&P 500 was set for a higher open on Friday following a brutal selloff in the previous session as a drop in the unemployment rate offset a slide in technology stocks, while investors remained cautious about a patchy economic recovery.

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On Tuesday, Nvidia’s (NVDA) launched its new PC gaming GeForce graphics processing units, the 2nd gen GeForce RTX 30 Series – the 3090, 3080 and 3070 GPUs— all based on the company’s Ampere architecture.

The “30 series” offers gamers and game developers extra performance and flexibility and boasts GPUs with 3D rendering gaming engines, 3rd-gen tensor cores and increased ray-tracing capabilities.

From September 17, the flagship 3080 model will be available for $699. The 3070 will hit the shelves in October for $499, while the Titan-series like 3090 stands out as NVDA’s highest performance GPU and will be available on September 24 for $1,499.

The gaming market is by now a huge ecosystem and has swelled far beyond just games. The PC gaming market numbers 1.5 million gamers, over 20 million live streamers, additional millions of media content creators, and a global audience for eSports events of over 500 million.

Mizuho Securities analyst Vijay Rakesh believes the new series will provide Nvidia’s competitors with a lot of work to do in order to keep with the GPU leader’s strong product line.

The 5-star analyst said, “With a 500M eSports audience, 100M GeForce gamers and strong adoption with Fortnite/Minecraft/Call of Duty titles, we believe NVDA is positioned well into 2021... We believe the combination of a strong 3D rendering GPU platform boosted by RTX and AI drive a step up in its value proposition for developers and gamers and create a deeper moat versus the competition for NVDA.”

To this end, Rakesh’s Buy rating stays as is while the price target gets a nudge upwards. The figure moves from $520 to $575 and could provide upside of 10.5% from current levels. (To watch Rakesh’s track record, click here)

Overall, there’s plenty of support for Nvidia on Wall Street. 24 Buys, 4 Holds and 1 Sell coalesce to a Strong Buy consensus rating. However, the average price target comes in at $546 and implies shares will remain range-bound for now. (See Nvidia stock analysis on TipRanks)

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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

What happened  Shares of Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) fell 9.3% and 8.5%, respectively, amid a brutal sell-off in technology stocks on Thursday.

Wall Street's main indexes closed sharply lower on Thursday, marking their deepest one-day declines since June as investors dumped the high-flying technology sector, while economic data highlighted concerns about a long and difficult recovery.

Looking at the sectors faring worst as of midday Thursday, shares of Technology & Communications companies are underperforming other sectors, showing a 4.3% loss. Within the sector, NVIDIA Corp (Symbol: NVDA) and Qorvo Inc (Symbol: QRVO) are two large stocks that are lagg

A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".

A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".

Investors in NVIDIA Corp (Symbol: NVDA) saw new options become available today, for the October 23rd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NVDA options chain for the new October 23rd contracts and identified one put and one c

The S&P 500 and Nasdaq were set to ease from record levels at the open on Thursday as a rally in technology stocks cooled and elevated levels of weekly jobless claims fueled worries about a struggling U.S. labor market.

U.S. stock index futures dipped on Thursday as a rally in technology stocks cooled and investors looked forward to data on weekly jobless claims as well as business surveys for more clarity on the path to economic recovery.

South Korean shares were set to gain for a third straight session on Thursday, following Wall Street's overnight rally, boosted by Samsung Electronics after U.S. firm Nvidia said the company would manufacture a series of powerful gaming chips.

The S&P 500 closed higher on Wednesday for the ninth time in the past 10 sessions, with defensive and value stocks taking their turns to lead the gains after data showed U.S. private payrolls expanded last month, but at a much slower pace than expected.

The S&P 500 closed higher on Wednesday for the ninth time in the past 10 sessions, with defensive and value stocks taking their turns to lead the gains after data showed U.S. private payrolls expanded last month, but at a much slower pace than expected.

What happened NVIDIA (NASDAQ: NVDA) delivered robust operating results when it reported its fiscal second-quarter earnings on Aug. 19. Investors loved it, sending the stock up 26% for the month, according to data provided by S&P Global Market Intelligence.

The S&P 500 rose on Wednesday for the ninth time in the past 10 sessions although defensive sectors took their turn to lead the gains after data showed U.S. private payrolls expanded last month, but at a much slower pace than expected.

Despite its 140% rise so far this year, investors are still underestimating the value of Nvidia's (NASDAQ: NVDA) stock.

A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".