Nvidia Climbs on Earnings Outlook and Nikola’s Technical Showing A Possible Entry?
Nvidia is a chip manufacturer focused on graphics processing; Nvidia’s GPUs make up the bulk of their revenue and are used in competitive gaming, professional visualization, and cryptocurrency mining. Nvidia also provides the only high-end GPUs on the market, with their cards often outperforming competitors.
Nvidia’s fourth-quarter results have been substantial; topping analyst estimates for both earnings and revenues. This was surprising to some as earlier this month, several tech giants against Nvidia’s deal to complete a $40-billion acquisition of Arm Ltd pushed federal regulators to investigate the semiconductor company.
Despite this, Nvidia’s fourth-quarter report, which came out just yesterday, also reveals that it was making “good progress” toward acquiring Arm. Nvidia was positive 2.9% after hours.
Established in 2015, Nikola aims to make zero-discharge hydrogen-powered trucks. While competitor organizations like Tesla, Daimler, Freightliner, and other set up players and new companies are chipping away at the new electric truck area, Nikola is one of the lone ones seeking after hydrogen-power as a source.
By making advancement in the vehicle space and innovation in the sector, NKLA’s stock and others have seen green in recent months. Nikola has recently discovered support at the critical 10-week moving average, at 21.16, NKLA stock is still trading almost 78% under an unequaled high of 93.99.
Currently, Nikola’s market value is at $8.1 billion, qualifying it as a midcap stock.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.