NVIDIA Scales 52-Week High on Impressive Earnings in Q1

Shutterstock photo Shares of NVIDIA Corporation NVDA hit a new 52-week high of $41.00 on May 13, eventually closing at $40.98. The stock has delivered a strong one-year return of 92.4% and a year-to-date return of 24.3%. The average trading volume for the last three months aggregated approximately 9,326K. What is Driving the Stock Upward? NVIDIA’s shares have been on the rise ever since the company declared better-than-expected first-quarter 2017 results on May 12, 2016. Also, an encouraging second-quarter fiscal 2017 revenue outlook, solid cash flow and regular innovative product launches drove NVIDIA shares higher. The company posted earnings (including stock-based compensation but excluding other one-time items) of 39 cents per share for the quarter, up on a year-over-year basis. The Zacks Consensus Estimate was pegged at 31 cents. Revenues…


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