The Accumulation/Distribution Rating is an E, a sign of heavy selling by institutions over the past 13 weeks. A rising RS line shows that a stock is outperforming the S&P 500 index. In fact, the strength indicator has rallied nicely for much of the past three years. The relative strength line for NVDA stock is lagging after a strong rally in the past year, IBD MarketSmith charts show. Shares are now testing their 200-day lines. In 2022, NVDA stock broke below its 50-day and round-tripped the entire late 2021 run. The chip stock cleared a 230.53 buy point in October and rapidly ran to a high before consolidating.
Investors generally should focus on stocks with Comp Ratings of 90 or even 95 and above. It also belongs to the IBD 50, Big Cap 20 and Sector Leaders lists. In fact, NVDA belongs to the IBD Leaderboard, a list of stocks with the most potential for big gains. In other words, it has outperformed 94% of all other stocks in terms of combined technical and fundamental metrics. Nvidia earns a strong IBD Composite Rating of 94. Its cryptocurrency mining processors, or CMPs, launched last February. Nvidia designs dedicated chips for mining cryptocurrencies. Rival services include Google Stadia, Microsoft Xbox Network and Amazon Luna. Nvidia makes chips for car infotainment and autonomous driving systems.Īs cloud gaming grows around the world, Nvidia's new cloud gaming service could become a growth driver. The chip shortage hit automakers especially hard. Now chips are in such hot demand that it's led to a global shortage. The pandemic fueled demand for Nvidia chips in home computing, video games and data centers. Out of 44 analysts covering NVDA stock, 35 rate it a buy, eight have a hold and one has a sell, according to FactSet. Its SMR Rating gauges sales growth, profit margins and return on equity. The EPS rating compares a company's earnings growth to other stocks. Nvidia's EPS Rating is a superior 97 and its SMR Rating is an A, on a scale of A to a worst E. Both earnings and revenue are seen growing further in 2023, though at a slower pace. Analysts expect EPS to jump 74% in all of 2022 as revenue increases 60%, according to FactSet. Nvidia CEO Jensen Huang expects the ongoing chip shortage to continue through 2022. The chip giant easily beat Q3 earnings and sales views. In addition, Nvidia guided revenue higher for the current Q4. In the third quarter of fiscal 2022, Nvidia earnings jumped 61% while sales surged 50%.
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