By the end of May 2021, it stood at $620 – a 77% increase on the year before. It stood at about $350 as of 1 June 2020. NVIDIA’s stock price has been on a tear over the past 12 months. Start trading Try Demo NVIDIA stock forecast 2021: The story so far That’ll make it much harder to generate new ETH using one of these products. To make them less attractive for miners (and to ease bottlenecks that are preventing exasperated players from getting their hands on one), NVIDIA announced in May that it is cutting hash rates in half. That’s because they’ve faced competition from those who want to snap up GPUs for cryptocurrency mining, giving them a greater chance of producing new ether coins in particular.Īlthough NVIDIA does have its own range of graphics cards for crypto miners, it says its GeForce range is designed for use by gamers only. Gamers have struggled to get their hands on graphics cards in the GeForce range, which aim to enhance the visuals and performance for top-flight titles. The rise in NVIDIA’s stock price hasn’t been without challenges, however. Across industries, the adoption of NVIDIA computing platforms is accelerating.” Our partners are launching the largest-ever wave of NVIDIA-powered laptops. “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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