Impressive results of Nvidia in Q3 2023
Impressive results of Nvidia in Q3 2023
Nvidia Corp. delivered an impressive financial report for Q3 2023. Net profit amounted to 9.24 billion USD, and revenue reached 18.12 billion USD. In comparison, last year's figures were 680 million USD and 5.93 billion USD, respectively. This increased performance is attributed to advancements in the company's data processing department, utilising chips with artificial intelligence.
Today, our focus is on the Nvidia Corp. (NASDAQ: NVDA) stock chart.
On the D1 timeframe, support at 487.16 was breached yesterday, 22 November, and the resistance moved to 505.48. The issuer's securities are currently decreasing in value after updating their historical maximum.
Nevertheless, the fair value of the stock, based on the P/S multiplier (the ratio of capitalisation to revenue), as outlined in Nvidia's latest quarterly report, may exceed 700 USD.
On the H1 timeframe, if quotes return to the previous support at 487.16, the medium-term target could be set at 550.45.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Source: tradingview
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
