Nvidia ran over six and a half percent today, which marks a new all-time high just below 500. As you can imagine, this got many investors and traders, including myself, very excited for what's to come next. What's going on moon gang, i hope you're having a great day. My name is matt and in this video i will be discussing the recent news related to nvidia and i will also be diving into their fundamentals and technicals, so you're better prepared for their upcoming earnings report and whatever happens after, if you're interested in this type of Stock market related content join the moon game by hitting the subscribe button.

Don't forget to turn on your notifications, so you don't miss any of the new videos. Alrighty, then, now that we got that out of the way let's get started, so this is the daily chart for nvidia, whose stock symbol is nvda today alone, the stock climbed 6.68 and made a new all-time high at 496.39. In the month of august alone, nvidia stock is up over 16. All of this recent bullish action is getting many investors excited for the upcoming earnings report, which is on wednesday august 19th to better understand, what's going on, and what to look for next.

Let's take a brief moment to look at the landscape. Nvidia is currently in nvidia makes billions of dollars by designing graphics processing units, also known as gpus. To put it simply, gpus can be thought of as the brains of your computer, laptop or notebook nvidia's. Gpus are extremely popular in the fields of gaming and artificial intelligence and they're, also commonly utilized in processing at data centers.

If you're interested in the details about what nvidia does and doesn't do, i would highly recommend checking out their website because there's a lot of details. The reason nvidia stock went up today was because multiple analysts raised their price target. This is excellent news, especially right before an earnings report. Wells fargo raised their price target on nvidia to 510 oppenheimer raised theirs to 500 susquehanna to 540 and wed bush to 500..

To give you a little bit of perspective at the time i'm making this nvidia is trading just above 493 dollars. I personally find it reassuring that multiple analysts currently think there's a decent amount of runway in the stock. Christopher rowland, an analyst from susquehanna, has the highest price target of 540. He was quoted saying, while intel and others prognosticate a 2h data center slowdown.

We believe that the setup remains favorable for nvidia helped by the relatively new launch of the a100 i'll make sure to come back to this last part. In a little bit, the second highest price target came from an analyst at wells. Fargo aaron rakers called out 510 dollars and said, while we think mix negative cloud demand data points, weren't some caution into the company's upcoming earnings report and is admittedly hard to guess what the good enough will be in terms of results guide upside. We don't foresee anything that will disrupt our thesis.

That nvidia appears to be one of the best positioned, multi-faceted long-term, secular growth stories in semis. Now i know i know, analysts aren't always right, but it is nice to see that most analysts are currently bullish on nvidia. So now that we know what caused the push to new all-time highs, let's take a look at the expectations for the upcoming earnings report. Nvidia is expected to report adjusted net income of 1.2 billion dollars in sales of 3.7 billion after the market closes on wednesday.

The 19th in the same period, a year ago, the company posted earnings of a dollar 24 share on sales of 2.6 billion. It reported a net income of 394 million. The stock has risen over 30 percent since the company last reported on may 21st. In the upcoming quarter, analysts are forecasting adjusted net income of 1.3 billion on sales of 4 billion for the year analysts project revenue of 14.7 billion dollars.

Earnings reports can be tricky events they're binary in the sense that if nvidia can beat these expectations, the stock will most likely go up, but if these numbers are missed, there's a good chance that the stock would decline. I personally don't like to make bets on binary events. I prefer to invest in companies that have a proven track record of growth and are expected to grow in the future and from 2016 until now, nvidia has been doing just that. If you take a look at the total revenues and gross profit, you'll see that they have more than doubled.

If you take a look at the net income, the story is even better. In 2016, the net income was 614 million dollars, but now it's 3.3 billion here is a more detailed look about where nvidia's revenue has been coming from over the past eight quarters, just over 40 comes from gaming. Just under 40 comes from data centers and the left over 20 comes from their work in artificial intelligence, driverless cars and generic iot devices. Analysts and investors are specifically excited about additional growth within the gaming sector, because in general, gaming has become much more popular during the stay-at-home economy, but with that being said, i think that there's a strong argument that nvidia is making smart moves to grow.

All these streams of revenue back in 2019 nvidia acquired melanox for 6.9 billion. This play was to make the company more competitive in the field of artificial intelligence and high performance computing, and on top of that, nvidia is making strategic data center plays as well. In september of 2020 they're expected to release their new ampere micro architecture, this new design is branded as the heart of the world's highest performing elastic data. Centers, obviously they're expecting it to be well received by artificial intelligence, high performance computing and modern data centers.

To put a cherry on top, it was recently announced that nvidia is closing in on a deal to buy arm sources set a takeover which could value. The company which supplies technology to apple at up to 40 billion is on course, to be completed by the end of this summer. The fact that nvidia is making strategic acquisitions and impressive technological advancements makes me very excited about their future. I'm also not alone.

Wall street is currently bullish on nvidia, with one being very bearish and 5 being very bullish. The average analyst rating is 4.28 out of 39 analyst. Ratings 32 are either very bullish or bullish. Five are neutral and let's just assume that these two hate making money this price target of 419 dollars is a little dated because most analysts are around 500, so you could just ignore this, but you should be aware of the support and resistance around the current price.

Here's the daily chart for nvidia once again since the start of 2020. The stock is up an incredible 108 at one point in march it was down 24, but since that low it was able to rally an impressive 173 percent from a charting perspective. It's tough to pick out points of resistance, because the stock just made a new all-time high, which means it hasn't developed in this region. I would expect there to be some resistance at 500, but that's more of a psychological thing.

If you're bullish on nvidia, i would recommend buying as close to support as possible. The first one would come at 460 dollars. This point recently served as resistance. If the bulls can't hold this line, i would then be looking for 432, even though i don't think it will happen anytime soon, if the bears are able to push the stock.

Through this support, i would then be looking for a bounce off of 391. This line has served as support on multiple occasions and if we ever get to these levels again, you can bet, i will definitely be a buyer in the short term. Their earnings report truly could swing the stock in either way, but i am leaning towards the bulls from a long term perspective i'm bullish on nvidia, because they are extremely well positioned in a growing sector. If you made it this far in the video.

I truly appreciate your support. I would love to hear your thoughts on nvidia or any recommendations for what stock i should look at next. If you'd like to join a group of like-minded traders and investors, i would highly recommend checking out smd trading. In fact, this video was made as a request from members in that group.

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