The recently revealed Nvidia’s earnings report has significantly stirred the market up a notch. The chipmaker reported a whopping 265% revenue boost, taking Wall Street by surprise.
According to CNBC, the chipmaker giant has reported “$12.29 billion in net income during the quarter, or $4.93 per share, up 769% versus last year’s $1.41 billion, or 57 cents per share.”
Nvidia’s robust progress has compelled investors to explore other potential stocks that could unlock new rewards for them.
Here’s the list of three stocks to watch out for after Nvidia’s stellar earnings report.
Also Read: $5,000 Invested in Nvidia Stocks in 2000 is Worth $2 Million Today
The Nvidia Effect: Top Chipmaker Stocks to Watch Out For
Artificial intelligence and semiconductor chip stocks are rallying after the unveiling of Nvidia’s recent earnings report.
Taiwan Semiconductor Manufacturing Company
Per CNBC, the stocks of Nvidia’s supplier, Taiwan Semiconductor Manufacturer Company, are on the rise.
TSMC is labeled as the world’s largest contract chipmaker. The firm produces processors for companies like Apple and Nvidia. At press time, the price of TSMC shares is trading at $129.25, with a 3.91% change in the last 24 hours.
Also Read: Institutional Investors Dump U.S. Stocks At Record Pace
Super Micro Computer
Another tech giant grabbing headlines after Nvidia’s earnings report is Super Micro Computers. The firm primarily supplies server components to enterprises. The company’s shares have soared 11.42% since Nvidia’s Q4 report was revealed, sparking interest among investors.
ASML
Dutch equipment manufacturer ASML is another crucial stock to watch out for. ASML stock prices rose 2.7%, inviting a flurry of reactions to its pricing. The company supplies lithographic machines that play a critical role in making chips for products.
Other Significant Stocks to Keep an Eye On
Nvidia’s latest report unlocked a new wave of stock market momentum. Shares of leading chipmaking firms jumped up a notch, driving market momentum ahead.
Per CNBC, shares of Intel, Broadcom, and Qualcomm rose 1.38%, 2.79%, and 1.80%, respectively. At the same time, Nvidia’s Rivak firms, Advanced Micro Devices, and Arm Holdings gained 4.08% and 7.87%, respectively.