Alphabet Inc GOOGL GOOG shares are trading higher by 2.75% to $124.22 during Thursday's session. Shares of several tech companies are trading higher in sympathy with NVIDIA after the company reported strong first-quarter results and guidance.
Alphabet shares are currently trading in close proximity to their 52-week high of $126.43, exemplifying notable momentum throughout the year 2023 and an impressive year-to-date surge of 39.39%. The recent strength observed over the past month can be attributed to the company's robust first-quarter financial results and the announcement of a $70 billion buyback initiative in April.
See Also: Impact of AI on Google's Return on Ad Spend - Analysts' Perspectives on the Tech Giant's Strategy
What Happened With NVIDIA Earnings?
Santa Clara, California-based Nvidia’s first-quarter earnings came in at $1.09 per share, ahead of the consensus estimate of 92 cents per share.
First-quarter revenue came in at $7.19 billion, also exceeding the Street estimate of $6.52 billion.
In late February, Nvidia guided to revenue of $6.5 billion plus or minus 2%, which translates to a range of $6.37 billion to $6.63 billion...Read More
According to data from Benzinga Pro, GOOGL has a 52-week high of $126.43 and a 52-week low of $83.34.
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