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At the end of last week NVIDIA (NASDAQ, ticker: NVDA) reported quarter results. EPS in Q3 $1.33 vs estimation $0.94. Which was over 40% better than prediction. Quarter revenue was also excellent $2.64 billion versus estimation $2.36 billion.
Jensen Huang founder and CEO of NVIDIA has commented results: “We had a great quarter across all of our growth drivers, Industries across the world are accelerating their adoption of AI. Our Volta GPU has been embraced by every major internet and cloud service provider and computer maker. Our new TensorRT inference acceleration platform opens us to growth in hyperscale datacenters. GeForce and Nintendo Switch are tapped into the strongest growth dynamics of gaming. And our new DRIVE PX Pegasus for robotaxis has been adopted by companies around the world. We are well positioned for continued growth”.
Next quarter also looks very good. NVIDIA sees Q4 revenue $2.65 billion, plus/minus 2%, versus the consensus of $2.43 billion.
Because of the excellent Q3 results bulls started to buy shares. On Friday the price went up for 5.27% closed at $216.14 level.
NVIDIA technical situation
In the middle of the September the price broke above resistance $174. After that upward movement has been continued. Last Thursday declines show that some investors lost their nerves before publication of the results. However, Friday’s candle is consistent with good results and perspectives. The price set new top-level last week and the bullish trend line is almost $100 below the current level.