It’s safe to say that Nvidia (NASDAQ:NVDA) really crushed it with its latest earnings release. That’s the immediate takeaway, following the nearly 25% post-earnings spike in the price of NVDA stock.
The chip maker knocked it out of the park with both results and guidance (more below) because of its high AI exposure. This may seem to many as if the market has overreacted to news that was arguably already baked into NVDA’s share price.
While it’s possible shares pull back a little, that’s not to say that a big reversal is in store for this popular tech stock. It could take some time for shares to rally by nearly another 25% again.
However, taking a closer look at the situation, there may be a path for the stock to continue climbing in the near-term. Here’s why.
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