Economic News

In the earnings season for U.S. companies, focus is on five key areas

Nvidia is just 2% away from reaching a new all-time high, and analysts highlight the reasons it remains undervalued

2024/10/10

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Recently, Nvidia's stock price has been rising steadily, nearing its historical high. On the 9th, it closed at $132.65 per share, just about 2% away from the June peak of $135.58. Nevertheless, some analysts believe that Nvidia's stock remains undervalued.

London-based Impax Asset Management, which manages $50 billion in assets, seized the opportunity to buy shares during Nvidia's massive sell-off earlier this year, aiming to make up for missed opportunities from previous misjudgments.

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Ian Simm, the founder and CEO of Impax, stated that they previously underestimated the market potential of Nvidia's products and had been looking to invest until the stock’s significant drop. By the end of June, Impax had increased its holdings in Nvidia to 4.

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