JPMorgan ChaseThe target price for Nvidia was raised from $265 to $280;
JeffreyIts target price was raised from $275 to $300; Melius Research Institute raised its target price for Nvidia from $380 to $400. Nvidia had previously reported better-than-expected earnings forecasts and announced an $80 billion stock buyback program.
Chip giant NvidiaNvidiaThe company reported record sales and profits on Wednesday, thanks to a surge in demand for data center computing and the rapid rise of artificial intelligence (AI) agents.
For the fiscal quarter ending in April, the company's sales reached $81.6 billion, an 85% increase year-over-year and 3.4% higher than the $78.9 billion forecast by analysts surveyed by FactSet. Net income for the quarter was $58.3 billion, more than three times that of the same period last year, and 36.5% higher than analysts' forecasts of $42.9 billion.
「Demand is growing exponentially,」 CEO Jensen Huang said on a conference call with analysts. "The reason is simple: the era of intelligent AI has arrived."
The company also announced two moves beneficial to shareholders: an $80 billion share buyback program and an increase in its quarterly cash Dividend from 1 cent per share to 25 cents. Chief Financial Officer Collette Kress said on a conference call that the company plans to return 50% of its free cash flow to shareholders this year.
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Editor: Wang Yongsheng
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