“NVIDIA RTX has reinvented computer graphics and is driving upgrades across the gaming and design markets. Breaking this down further, we can see that revenue in NVIDIA’s two core divisions – gaming and data centres – delivered blockbuster growth of 106% ($2.76bn) and 79% ($2.05bn)respectively.Īs analysts make upbeat NVIDIA stock price forecasts for the months ahead, the company’s CEO Jensen Huang described the period as a “fantastic quarter, with strong demand for our products driving record revenue”. Overall, revenues came in at $5.66bn – that’s up 84% from the same period a year earlier. To understand why NVIDIA stock price predictions are so upbeat, take a look at its financials covering the three months to 2 May. This has been driven by a multitude of factors: heightened demand as top manufacturers release new consoles, production disruption because of COVID-19 and the dizzying bull run that was seen in the cryptocurrency markets. The NVIDIA stock forecast has been robust in recent months, despite warnings from the company that a dire shortage of graphics processing units (GPUs) is expected to last until the end of 2021.
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