Nvidia’s market value is closing in on Amazon’s after recent rally

  • Nvidia stock is down 0.7% in premarket trading
  • Nvidia is close to overtaking Amazon in terms of market value
  • Nvidia’s market value is around $1.73 trillion, close to Amazon’s $1.78 trillion
  • Nvidia’s forward price-to-earnings multiple is 33 times, while Amazon’s is 40 times
  • Analysts at Morgan Stanley raised their target price on Nvidia shares to $750
  • Arm Holdings beat expectations for its earnings and outlook
  • Nvidia shares have risen 28% over the last month

Nvidia stock is down 0.7% in premarket trading, putting it close to overtaking Amazon in terms of market value. Nvidia’s market value is around $1.73 trillion, just shy of Amazon’s $1.78 trillion. The chip maker’s forward price-to-earnings multiple is 33 times, while Amazon’s is 40 times. Analysts at Morgan Stanley have raised their target price on Nvidia shares to $750. Additionally, Arm Holdings, a chip designer, beat expectations for its earnings and outlook, which could further boost Nvidia’s position. Nvidia shares have seen a significant rise of 28% over the last month.

Public Companies: Nvidia (NVDA), Amazon (AMZN), Arm Holdings (undefined), Advanced Micro Devices (AMD), Intel (undefined)
Private Companies:
Key People:

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Factuality Level: 7
Justification: The article provides information about Nvidia’s stock performance and market value compared to Amazon. It includes data from FactSet and mentions the target price raised by analysts at Morgan Stanley. The article also mentions the positive earnings and outlook of chip designer Arm Holdings. However, the article lacks in-depth analysis and context about the factors driving Nvidia’s stock performance and market value.

Noise Level: 3
Justification: The article is primarily focused on the stock performance of Nvidia and its comparison to Amazon. It provides some information about Nvidia’s market value and trading volume, but it lacks in-depth analysis or insights. The article does not provide any evidence or data to support its claims. Overall, it contains mostly repetitive and irrelevant information, making it noise-heavy.

Financial Relevance: Yes
Financial Markets Impacted: Nvidia stock

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the drop in Nvidia stock after reaching a new closing high. There is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com