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NVIDIA Approaches All-Time High with $140 Target as Shares Surge 2.5%

Oct 14, 2024, 02:00 PM

NVIDIA (NVDA) is on the verge of breaking out from a nearly four-month range, with shares up 2.5% recently. The stock is approaching its all-time high, needing to clear the $136.15 level to test new highs. Analysts are optimistic, noting that NVDA could reach $140 before the end of October. The stock has shown strong momentum, breaking through an important multi-month wedge last week and benefiting from the ARM momentum breakout. Nvidia, the second largest company in the world by market cap, is now just 5% below Apple (AAPL). The recent positive performance is attributed to strong news and growth potential, with some analysts suggesting it could be at the leading edge of a market melt higher. The stock had previously fallen to $102 after Q2 earnings.