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Nvidia Corporation (NASDAQ:NVDA) shares are trading higher Friday. Several AI-related and chip stocks are rising following better-than-expected earnings from Microsoft Corporation (NASDAQ:MSFT) and Meta Platforms, Inc. (NASDAQ:META) increased its capex outlook.
The Details:
Microsoft delivered better-than-expected first-quarter results Thursday, and Microsoft CEO Satya Nadella highlighted strong demand for the company's offerings, particularly in the field of artificial intelligence (AI).
Meta also reported strong first-quarter results this week and raised its capital expenditures outlook amid the company's increased efforts in AI.
Wedbush analyst Dan Ives expressed his excitement about the strong results from Microsoft and Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and emphasized the need for increased AI spending, as companies shift towards the "fourth industrial revolution."
Nvidia shares have gained nearly 15% over the past five days after dropping 10% last Friday in the stock's largest one-day loss since 2020.
Related News: Snap Shares Soar On Better-Than-Expected Q1 Results, Daily Active User Growth, Q2 Revenue Guidance
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of Nvidia have gained 214.76% year to date. This compares to the average annual return of 74.89%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Nvidia stock currently has an RSI of 46.67, indicating neutral conditions.
For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.
NVDA Price Action: According to Benzinga Pro, Nvidia shares are up 5.91% at $875.16 at the time of publication Friday.
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