NVIDIA's (NVDA.US) results for the fourth fiscal quarter ending January and the operating guidance for the first fiscal quarter ending April were robust, beating street consensus across the board, JP Morgan said in its report.

The revenue guidance for the first fiscal quarter was approximately USD5 billion higher than the broader market forecast, and the recent gross margin guidance remained solidly at a mid-high level of 74-75%.

JP Morgan noted that the stock performance reflects high investor expectations, likely tied to the ongoing market focus on NVIDIA's data center business growth prospects for next year. Additionally, it believed that generative AI will become a new demand driver.

JP Morgan was upbeat about NVIDIA's revenue growth for FY27, raising the target price from USD250 to USD265 and maintaining an Overweight rating.
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AASTOCKS Financial News
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