FINSUM + Magnifi: Nvidia Acquisition Proposal Extends Bullish Run

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June 21, 2021

 

The chip shortage of 2021 has been an ongoing saga that has benefited many of the largest manufacturers. Nvidia Corp., one of the largest U.S. chip manufacturers, hit an intraday trading record as traders seem very optimistic that the company will acquire Arm Ltd. Nvidia was up nearly 4%—almost doubling the growth in the Philadelphia Semiconductor Index. The monthly gain is 17% and would be the largest monthly for August. Nvidia’s CEO is very optimistic that regulators will approve the acquisition. The acquisition would broaden Nvidia’s reach and production. Traders have Nvidia’s target price as high as $900 which would be a staggering year for the chip performer.

(New York)

FINSUM + Magnifi: Don’t sit on the chip selling too long. Nvidia had a monster month in graphics card sales, as bitcoin miners and gamers had their products off the shelves in seconds.

Other news today: Goldman Sachs Says These Stocks are Set to Boom and Asia Booms on Differing Central Bank Moves 
 


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