Nvidia Shares Jump 4.9% A Day Ahead Of Earnings Release

Shares of artificial intelligence chip leader Nvidia rose 4.89% from the previous day to $147.01 on the New York Stock Exchange a day before the quarterly earnings report.

The market capitalization also swelled to $3.653 trillion, retaking its top spot in the market capitalization rankings in a day, beating Apple, whose stock rose just 0.11%.

As Nvidia's earnings, which were all announced in each quarter, exceeded market expectations, it is interpreted that expectations for its third-quarter earnings, which will be announced after tomorrow's New York Stock Exchange close, have played a role.

In a note to customers, U.S. financier Stifel gave Nvidia a Buy rating and raised its price target to $180 from $165.

However, sales and net income exceeded expectations when the company announced its earnings last quarter, but even if the company performs better than expected, the market's high expectations are raising the possibility of the stock price falling.