Why Nvidia Shares Gained This Week After Meta Platforms, Intel Earnings

NVIDIA Corporation NVDA shares traded higher by some 10.52% to $138.34 this week. Shares of semiconductor stocks gained after Meta Platforms Inc META raised its AI and data center capex outlook.

Shares of semiconductor and chip companies at large also traded higher this week in sympathy with Intel Corporation INTC, which reported better-than-expected third-quarter EPS.

What Happened?

Intel's third-quarter revenue was $15.3 billion. That's down 20% year-over-year. The revenue total missed a Street estimate of $15.43 billion, according to data from Benzinga Pro.

“Despite the worsening economic conditions, we delivered solid results and made significant progress with our product and process execution during the quarter,” Intel CEO Pat Gelsinger said...Read More

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Nvidia has a 52-week high of $346.47 and a 52-week low of $108.13.