Why Nvidia Shares Are Rising

NVIDIA Corporation NVDA shares are trading higher on continued strength after the company on Wednesday reported strong third-quarter results.

Nvidia reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $1.10. Nvidia also reported quarterly sales of $7.10 billion which beat the analyst consensus estimate of $6.83 billion by 4% percent. This is a 50% increase over sales of $4.73 billion in the same period last year.

The stock was also mentioned by Jim Cramer this morning.

people love tech when rates are lower.. and they love the 'verse. I am headed to Nvidia,king of the verse.

— Jim Cramer (@jimcramer) November 19, 2021

Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers and automotive infotainment systems.

Nvidia has a 52-week high of $327.85 and a 52-week low of $115.66.