Nasdaq NVDA Nvidia

The S&P 500 and Nasdaq notched record closing highs on Thursday, boosted by upbeat corporate earnings news from companies including Nvidia, while Turkey's lira weakened further after its central bank cut rates.

Both the S&P 500 and the Nasdaq eked out record closing highs after a topsy-turvy Thursday on Wall Street, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker.

The Dow fell for a second-straight day, as weak price action and choppy trading once more took hold of Wall Street. The S&P 500 and Nasdaq finished comfortably in the black though, both scoring record closes along the way. Jobless claims and corporate earnings dominate

The stock market lumbered through another tame session at the broader-index level Thursday, but a few exciting individual moves in Big Tech were just enough to get the S&P 500 and Nasdaq Composite back into record territory.

Both the S&P 500 and the Nasdaq eked out record closing highs after a topsy-turvy Thursday, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker.

Technology stocks extended their Thursday gains, with the SPDR Technology Select Sector ETF (XLK) rising 1.0% while the Philadelphia Semiconductor Index was advancing 1.6% this afternoon.

What happened Shares of Roblox (NYSE: RBLX) were trading up 13.6% week to date as of 1:47 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence. The stock initially took off after the company's better-than-expected third-quarter earnings results on

The S&P 500 and Nasdaq remained positive into early afternoon trading on a topsy-turvy Thursday on Wall Street, with investors taking cues from upbeat retail and technology earnings despite hawkish inflation comments from a Federal Reserve policymaker.

Technology stocks were higher, with the SPDR Technology Select Sector ETF (XLK) Thursday rising 0.7% while the Philadelphia Semiconductor Index was advancing 1.3% this afternoon.

The S&P 500 and Nasdaq reversed course to edge higher in volatile trading on Thursday after a clutch of upbeat retail and technology earnings encouraged investors to shrug off hawkish comments on inflation from a Federal Reserve policymaker.

Shares of Nvidia Corp surged 12% on Thursday, taking the chipmaker closer to the $1 trillion valuation mark on hopes that it will get a boost from companies plowing billions of dollars into their "metaverses", the latest technology buzzword.

In this video, I will be covering Nvidia's (NASDAQ: NVDA) recent Q3 earnings report as well as expanding on my new favorite part of the business, Omniverse. You can find the video below, but here are some highlights.

In early trading on Thursday, shares of NVIDIA topped the list of the day's best performing components of the Nasdaq 100 index, trading up 10.8%. Year to date, NVIDIA registers a 148.3% gain.

In early trading on Thursday, shares of NVIDIA topped the list of the day's best performing components of the S&P 500 index, trading up 11.6%. Year to date, NVIDIA registers a 150.1% gain.

The Nasdaq led Wall Street higher on Thursday as chipmaker Nvidia rallied on robust third-quarter results, while a fresh batch of positive retail earnings indicated strength in consumer spending against the backdrop of rising inflation.

Technology stocks were advancing premarket Thursday. The Technology Select Sector SPDR ETF (XLK) was 0.56% higher, and the Semiconductor Sector Index Fund (SOXX) was up more than 1% recently.

Ford Motor Co and chip manufacturer GlobalFoundries Inc on Thursday said they plan to work together to boost supplies for the automaker's vehicles and the broader U.S. auto industry but gave few details about what the deal entails.

The Nasdaq was set for a strong open on Thursday as chipmaker Nvidia rallied on robust third-quarter results, while the S&P and the Dow were on track for gains following a fresh batch of positive retail earnings.

Nvidia (NVDA) delivered better-than-expected fiscal Q3 2022 results, characterized by record revenue. Earnings and revenue topped consensus estimates, driven by growth in the Gaming, Data Center, and Professional Visualization market. NVDA shares fell 3.12% to close at $292.61 on November 17.

Nvidia is a U.S. company that designs, manufactures, and sells computer graphics processors, chipsets, and related multimedia software.

Q3 Results

The company delivered record quarterly revenue of $7.10 billion, up 50% year-over-year exceeding consensus estimates of $6.83 billion. The Gaming unit posted record revenue of $3.22 billion, up 42% year-over-year, while Data Center revenue grew 55% to $2.94 billion.

The Professional Visualization segment also posted record revenue of $577 million, up 144% from the same quarter last year. The Automotive segment, on the other hand, delivered an 8% year-over-year increase in revenue to $135 million.

Nvidia posted non-GAAP diluted EPS of $1.17, up 60% from the same quarter last year, exceeding the consensus estimate of $1.11. (See Top Smart Score Stocks on TipRanks).

Q4 Outlook

During the quarter, Nvidia paid cash dividends amounting to $100 million. It is also slated to pay a quarterly cash dividend of $0.04 a share on December 23, 2021, to shareholders on record as of December 2, 2021.

For Q4, the company expects revenue of $7.40 billion, plus or minus 2%. The company also expects non-GAAP gross margins of 67%, plus or minus 0.5%.

Stock Rating

Recently, Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on the stock with a price target of $335, implying 14.49% upside potential to current levels.

Consensus among analysts is a Strong Buy, based on 20 Buys and 2 Holds. The average Nvidia price target of $334.95 implies 14.5% upside potential to current levels.

NVDA scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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