CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

Why is Nvidia rising again?

Nvidia shares burgeoned nearly 8% on Tuesday, reversing massive losses suffered the previous day.

  • Nvidia Corp (NASDAQ: NVDA) share price closed 8% higher on Tuesday (09 March)
  • This was a reverse of the previous day, when shares had declined 7%
  • Nvidia’s rally came on the back of falling US bond yields, which had hit a 14-month high just a day prior
  • Analysts predict that the stock’s price could rally another 19% in the next twelve months
  • Trade NVDA shares, long or short, with an IG account

Nvidia share price: what’s the latest?

Shares of Nvidia Corporation spiked up 8% to close at US$501 on Tuesday (09 March 2021), erasing the losses suffered a day earlier.

On Monday, Nvidia’s share price plunged nearly 7%, after US bond yields hit a 14-month daily peak rate of 1.59%.

On Tuesday, the daily 10-year Treasury Yield fell to 1.55%, which motivated investors to move back into technology stocks, evident by the Nasdaq Composite Index’s 3.7% increase for the session.

Nvidia shares are down 4.5% year to date, as of Tuesday close.

Where do analysts see Nvidia shares going next?

Bank of America analyst Vivek Arya wrote in a note on Monday (08 March) that his firm’s monthly Steam graphics processing unit (GPU) survey revealed a ‘robust gaming environment’ with the potential for more GPU upgrades.

The survey showed that only 11% of Nvidia gamers currently own a GPU with performance that can rival the latest consoles from Sony and Microsoft. As such, Arya predicts that there will be accelerated adoption of new generation GPUs from Nvidia.

The analyst has reiterated a ‘buy’ recommendation on the semiconductor stock.

Meanwhile, Jefferies analyst Mark Lipacis believes that Nvidia’s high gaming GPU revenue, which has coincided with a material increase in cryptocurrency prices, could pose risks to the company’s gaming GPU revenues and stock prices down the road.

However, he noted that M Science purchase data suggests that retail crypto miners are not behind the large gaming GPU revenues, unlike 2017’s ‘crypto-bubble’.

Instead, Lipacis attributes Nvidia's recent gaming GPU shipments to its Ampere GPU product cycle. He rated the stock a ‘buy’ with a US$680 price target on 03 March.

Across the board, MarketBeat data shows that NVDA has received a consensus stock rating of ‘buy’, and 12-month price target of US$594.31, which represents an upside of 18.6%.

How to trade Nvidia stocks with IG

Are you feeling bullish or bearish on Nvidia’s stocks?

Either way you can buy (long) or sell (short) the asset using derivatives like CFDs offered on IG's industry-leading trading platform, or by investing in the share directly, in a few easy steps:

  1. Create a live or demo IG Trading Account, or log in to your existing account
  2. Enter <Nvidia Corp> in the search bar and select the instrument
  3. Choose your position size
  4. Click on ‘buy’ or ‘sell’ in the deal ticket
  5. Confirm the trade

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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