Nvidia hits record high as Foxconn posts $95.4 billion Q3 sales
AI Market Summary
Nvidia hit a record high as Foxconn's Q3 revenue beat expectations, reinforcing evidence of strong AI-server demand tied to Nvidia-based infrastructure. The move is supported by Foxconn's outlook for continued AI-related growth and by Nvidia's unusually low forward multiple versus growth, which has drawn investor focus. A materially expanded share buyback authorization further underpins near-term equity demand and sentiment in semis and AI-linked risk assets.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT+0.09%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▲ Bullish
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Nvidia shares hit a record high on Tuesday, lifting the chipmaker’s market capitalization to $5.83 trillion and putting it on track toward $6 trillion. The rally followed Foxconn’s report of $95.4 billion in sales for the quarter ending in September, beating estimates and fueling expectations of strong AI-server demand. Nvidia traded at a forward price-to-earnings ratio of 17.1 times as of Monday’s close, while analysts’ consensus price target stood at $334.45, according to FactSet.
