Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
Nvidia stock fell 1% Tuesday as earnings loom on Wednesday. Now the question is, how much growth with the artificial intelligence giant report and how will the markets react? Nvidia shares rose past an alternate buy point Wednesday from a handle after the Google AI Conference showed different ways in which artificial intelligence will improve search.
Analysts raised their price target for the computer maker’s stock to $170 from $125, and maintained a Buy rating on the stock.