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Key Takeaways
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Nvidia shares climbed to close at an all-time high Monday.
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The gains came after Nvidia supplier Foxconn posted record fourth-quarter revenue.
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CEO Jensen Huang is also set to deliver the opening keynote at a major consumer electronics show Monday evening.
Nvidia (NVDA) shares climbed to close at an all-time high Monday after Taiwan's Foxconn reported record fourth-quarter revenue.
Foxconn, a key supplier for Nvidia, Apple (AAPL), and many other tech giants, posted fiscal fourth-quarter revenue that grew 15% year-over-year, driven by booming demand for artificial intelligence (AI).
Nvidia's stock price rose 3.4% to finish at $149.43 Monday, topping its previous record close of $148.88 set Nov. 7. Shares have nearly tripled in value over the past 12 months.
Investors are also looking ahead to CEO Jensen Huang's opening keynote at a major consumer electronics show on Monday, set to start at about 9:20 p.m. ET. Analysts expect Nvidia to raise sales expectations for its Blackwell GPUs, and many see the event as a potential growth catalyst for the chipmaker.
All but one of the 21 analysts covering the company tracked by Visible Alpha maintain a “buy” or equivalent rating for the stock, with a consensus price target of $177, an 18% premium over Monday's closing price.
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