Nvidia (NVDA) Ignites Rally Ahead of Microsoft and Meta Earnings
July 30 - Nvidia 
NVDA inched up 2% on Wednesday trade after a 0.7% slide Tuesday, as investors await fresh earnings catalysts.
Microsoft 
MSFT and Meta Platforms 
META both report quarterly results Wednesday afternoon. Market participants will watch for signs that these AI leaders plan to maintain or boost spending on Nvidia's chips, or consider shifting to in?house alternatives.
In the broader AI chip race, start?up Groq is pursuing $600 million in funding at a $6 billion valuation, according to a Bloomberg report citing anonymous sources. Groq, which focuses on high?speed inference chips, counts Saudi Arabia's Humain among its customers but has not responded to requests for comment.
Other chipmakers showed mixed moves in early trading. Advanced Micro Devices 
AMD slipped 0.4%, while Broadcom 
AVGO edged down 0.2%. Investors will gauge whether Nvidia's lead in training and inference workloads holds firm as competition intensifies and tech giants unveil their latest results.
Is NVDA Stock a Buy?
Based on the one year price targets offered by 53 analysts, the average target price for NVIDIA Corp is $184.95 with a high estimate of $372.87 and a low estimate of $100.00. The average target implies a upside of +5.38% from the current price of $175.51.
Based on GuruFocus estimates, the estimated GF Value for NVIDIA Corp in one year is $280.31, suggesting a upside of +59.71% from the current price of $175.51.