Why Nvidia Stock Rallied in June
Shares of Nvidia (NASDAQ: NVDA) rallied in June, with shares climbed 12%, according to data provided by S&P Global Market Intelligence. That's nearly double the 6.5% gains of the S&P 500, compounding its impressive gains so far in 2023, with the stock up an eye-popping 189% as of market close on June 30.
Helping fuel the semiconductor giant's rally was a wave of price target increases from Wall Street, as analysts scrambled to update their models in the wake of Nvidia's exceptionally strong guidance for the current quarter.
Image source: Nvidia.
Source Fool.com
