Finance Associated Press, February 22 (edited by Zhao Hao).In early trading on Thursday (February 22), driven by Nvidia's 15% gain, the Dow and S&P both refreshed intraday record highs, and the Nasdaq rose more than 2%.
Specifically, the S&P 500 index, the benchmark for U.S. stocks, is now up 15% at 505736 points, the highest in the day reached 5064At 12 points, the Dow Jones rose 069% at 3887759 points, the highest in the day reached 38994At 50 points, both refreshed the intraday highs 10 days ago, and are expected to hit new highs.
The tech-heavy Nasdaq Composite is up 233%, leading the three major indexes. The chip sector is even stronger, with the Philadelphia Semiconductor Index now up 45%, which also refreshed the intraday high. Among the constituent stocks, Nvidia and AMD (Chaowei Semiconductor) were among the top gainers.
Nvidia is now up nearly 15%, and its market capitalization has reached 19 trillion US dollars, surpassing Google and Amazon, back to the top of the US ** value list.
3. The fourth largest market value in the world, behind only Microsoft and Apple in the United States, and Saudi Arabia's energy giant Saudi Aramco.
After yesterday's market hours, Nvidia announced a "flawless" performance report: in the fourth quarter of fiscal year 2024 ending January 28, Nvidia's revenue reached a record $22.1 billion, a year-on-year increase of 265%; Full-year revenue also hit an all-time high of $60.9 billion, up 126%.
The company's quarterly net profit was 122US$8.5 billion, a year-on-year increase of 769%; Adjusted earnings per share were 5$16, a year-on-year increase of 486%, both hit a record high. That compares to Wall Street's previous expectation of 4$64 for EPS and $204$500 million in revenue.
In addition, Nvidia also expects revenue for the quarter to rise further to $24 billion, plus or minus 2%, stronger than analysts' expectations of $21.8 billion; GAAP and non-GAAP gross margins are expected to be 76., respectively3% and 770%, plus or minus 50 basis points.
It can be described that Wall Street's original expectation for Nvidia's earnings report was "95 points", but before the announcement, the market thought that it might only reach "93 points". However, what I didn't expect was that NVIDIA's actual performance and outlook actually scored "100 points", and the company's executives were also very "public" at the meeting, which brought a strong boost to the company.
Nvidia founder and CEO Jensen Huang said, "Accelerated computing and generative AI have reached a tipping point. Demand is soaring across companies, industries, and countries across the globe. CFO Colette Kress also said that the company now says demand for its advanced AI chips continues to "outpace".
During the day, JPMorgan Chase & Co. and Wedbush both announced that they would raise their price targets to $850 per share. Adam Sarhan, founder of 50 Park Investments, commented, "It's been another blowout quarter. This is very optimistic for ** investors, and Nvidia has also shown us the prospects for the development of artificial intelligence. ”
"What's more, Nvidia has also shown us that the excitement about AI can translate into real benefits." It's very strong, and they continue to outperform Wall Street's.
In this "the most important ** on the planet" annunciation environment, not only ASML, ARM, etc., which are closely related to it, have followed suit, but also the Japanese equity heavyweights Tokyo Electron and SoftBank Group have also risen sharply, pushing up the Nikkei 225 index to close at a new high, and the trading Euro Stoxx 600 index has also recorded an intraday high.