Nvidia stocks jump 8.5%, boosting outlook for quarter year results

Investment firms have boosted their targets ahead of firm’s second-quarter results on Wednesday

Nvidia: Firm’s second-quarter results, which will be published this week, are expected to show significant demand for the chips used to process AI services. Picture: NurPhoto/Getty Images

Nvidia shares soared on Monday as more analysts raised their price targets on the stock, a sign of growing optimism about the chipmaker’s highly anticipated results later this week.

The average price target for the stock has been moving steadily higher recently, and is above $520 (€477), up from $505 (€463) just a week ago. The current target implies an upside of about 11 per cent from current levels.

The stock gained 8.5 per cent ...