NVDA gapped high the other day then reported stellar earnings, revised projections higher, and will benefit from post-COVID boost to cloud data storage systems to which its acquisition of Mellanox helps. NVDA is also diving deep into AI which is one of the technology megatrends. NVDA GPU computing is also gaining market share as its digital GTC conference attracted a record number of developers. That said, AMD remains a formidable competitor.
Sales and earnings are strongly accelerating from negative quarter-over-quarter results in the quarters ending Jul-19 and Oct-19 to +136%, +105% for sales and +41%, +39% in its last two quarters.
The closer one buys NVDA to the low of its gap down day, the lower the risk.
Buyable Gap Up - NVDA BGU
| Published: | 24 May 2020 10:53 ET |
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