Why Nvidia, C3.ai, and Qualcomm Stocks Keep Going Up
Tech stocks tied to the artificial intelligence (AI) revolution are roaring ahead this morning. As of 11:10 a.m. ET, shares of the eponymous AI stock, C3.ai (NYSE: AI), are up an astounding 16.7%, while (NASDAQ: QCOM), the self-proclaimed "on-device AI leader," is gaining 3.7%, and Nvidia (NASDAQ: NVDA), officially now the first $1 trillion semiconductor company, tacks on 5.5%.
Granted, the majority of today's gains still probably owe to Nvidia's powerful sales guidance given in its fiscal first-quarter 2024 earnings report last week. Nvidia's earnings surged 28% in Q1, beating expectations by 16%, and with sales forecast to surge 64% higher in the second quarter, you can probably expect more earnings gains are on the way.
But over the weekend, Nvidia made huge efforts to keep the momentum going. The semiconductor giant released a flurry of press releases in the wake of earnings: On Saturday Nvidia, which got its start making graphics processing units for games, announced "a custom AI model foundry service" to improve how non-player characters in games perform using AI algorithms -- and confirmed that its GH200 Grace Hopper Superchip has entered full-rate production.
Source Fool.com
Qualcomm Inc. Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
With a target price of 157 € there is a slightly positive potential of 3.81% for Qualcomm Inc. compared to the current price of 151.24 €.
