Nvidia's stock price increased by over 1% to $182 in pre-market trading, driven by strong earnings reports from TSMC and ASML. TSMC reported a 39% profit increase in Q3, with its high-performance computing division contributing 57% of its revenue. ASML's net sales exceeded 7.5 billion euros, further boosting investor confidence in the semiconductor sector.
Analysts remain optimistic about Nvidia's prospects, with HSBC upgrading the stock to a buy rating and forecasting a potential rise to $320. Technical analysis indicates that Nvidia's stock could reach $200 if it surpasses the $194 resistance level.
Nvidia Stock Rises on Strong TSMC and ASML Earnings
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