How the Metaverse Helped Send Nvidia Stock Surging Higher on Tuesday
Shares of Nvidia (NASDAQ: NVDA) charged higher on Tuesday, adding as much as 6.2%. At 12:09 p.m. ET today, the stock was still up 5.6%.
Several factors likely fueled Nvidia's surging stock price. An analyst added the chipmaker to its "best of" list for 2022, citing potential from the metaverse, while the broad market rally was no doubt a contributing factor.
Analysts at Citi named Nvidia as one of their top stocks to buy for 2022. The investment bank cited technical advances in processors and government incentive programs as potential catalysts for increased spending on equipment over the next several years, with semiconductor capital equipment companies well positioned to profit from the additional investment.
Source Fool.com
