Why Nvidia Shares Are Rising

Shares of semiconductor stocks, including NVIDIA Corporation NVDA, are trading higher in sympathy with QUALCOMM, Inc. QCOM, which reported better-than-expected second-quarter EPS and sales results.

Qualcomm reported fiscal second-quarter revenue of $11.16 billion, which beat the $10.6 billion estimate. The company reported quarterly adjusted earnings of $3.21 per share, which beat the estimate of $2.91 per share… Read More

See Also: Why Pinterest Shares Are Moving Higher Today

Nvidia’s chips are used in a variety of end markets, including high-end PCs for gaming, data centers and automotive infotainment systems.

According to data from Benzinga Pro, Nvidia is trading higher by 4.02% at $191.55. Nvidia has a 52-week high of $346.47 and a 52-week low of $134.59.