Long Position on NVDA @ $120.00 on 6/7/2024 (Fundamentals)

NVIDIA Corporation (NVDA) provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally.

Upward Trading ChannelThe Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

The Compute & Networking segment comprises Data Center computing platforms and end-to-end networking platforms, including Quantum for InfiniBand and Spectrum for Ethernet; NVIDIA DRIVE automated-driving platform and automotive development agreements; Jetson robotics and other embedded platforms; NVIDIA AI Enterprise and other software; and DGX Cloud software and services.

The company's products are used in gaming, professional visualization, data center, and automotive markets. It sells its products to original equipment manufacturers, original device manufacturers, system integrators and distributors, independent software vendors, cloud service providers, consumer internet companies, add-in board manufacturers, distributors, automotive manufacturers and tier-1 automotive suppliers, and other ecosystem participants.

NVIDIA Corporation was incorporated in 1993 and is headquartered in Santa Clara, California.

Following the company's stock split, share prices should head higher along its upward momentum. This stock should be a strong option for growth investors.

Entry Point: $120.00

Trading Range: $385.67 - $1255.87

Stop Loss: $114.00

Target Price: $132.00

 

Position closed on 6/18/2024 at price of $133.25 with a 11.04% gain in 11 days.

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