Why Nvidia Stock Climbed 7.7% Last Week
Shares of Nvidia (NASDAQ: NVDA) rose nearly 8% last week, following bullish analyst remarks.
On Monday, Nvidia's stock price appeared to benefit from positive comments from Morningstar. "After taking a fresh look at our thesis on Nvidia, we are raising our moat rating to wide from narrow, thanks to intangible assets related to the design of graphics processing units (GPUs)," said Morningstar analyst Abhinav Davuluri. Essentially, this means the research company believes Nvidia is widening its lead in GPU technology, which, in turn, is strengthening its competitive advantages over its rivals.
Image source: Getty Images.
Source Fool.com