Nvidia Stock Stabilizes as Major Windows PC Launch Approaches
Nvidia Stock At Key Support Ahead of Big Windows PC Launch
Image: Benzinga
Nvidia's stock has settled at a critical support level after a 10% decline since May. The upcoming launch of the first Nvidia-powered Windows PC by Microsoft could signal a recovery, with Nvidia targeting a $200 billion CPU market amidst strong AI growth.
- 01Nvidia's stock price fell 10% from its peak in May, settling at a key support level of $212.
- 02Microsoft is set to launch its first Windows PC powered by Nvidia chips, which will be unveiled at the Computex trade show and Build conference.
- 03Nvidia's revenue surged 85% in the first quarter, reaching over $81 billion, with expectations to grow to $91 billion in the current quarter.
- 04The stock has formed a break-and-retest pattern, suggesting a potential rise to a target of $260 if it surpasses its all-time high of $236.
- 05Analysts have a consensus price target of $308 for Nvidia, with some estimates as high as $425.
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Nvidia (NASDAQ: NVDA) stock has recently settled at a crucial support level of $212 after experiencing a 10% decline from its peak in May. This decline comes as Nvidia prepares for a significant opportunity with Microsoft (NASDAQ: MSFT) set to launch its first Windows PC powered by Nvidia chips. The unveiling will occur at the Computex trade show in Taiwan and Microsoft's Build conference in San Francisco. Nvidia aims to capture a share of the $200 billion CPU market, especially as demand for AI technologies surges. The company's revenue increased by 85% in the first quarter, totaling over $81 billion, with a projected growth to $91 billion in the current quarter. Analysts predict a consensus price target of $308 for Nvidia, with some estimates reaching as high as $425. The stock has formed a break-and-retest pattern, indicating a potential upward movement towards a target of $260 if it breaks above its previous high of $236.
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The performance of Nvidia's stock could influence investment decisions and market trends, especially in the tech sector.
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