: Nvidia’s stock notches longest winning streak in seven years, with all-time high in view

Nvidia Corp. shares on Monday secured their longest winning streak in nearly seven years as they hovered near their all-time high. The chip giant earlier Monday introduced its new artificial-intelligence chip, promising significant performance improvements relative to the prior model.

The H200 is the first graphics-processing unit from Nvidia
NVDA,
+0.59%
to feature HBM3e memory, giving it more bandwidth and capacity and highlighting “the importance of memory in next-gen AI workloads,” according to Wells Fargo analyst Aaron Rakers. Nvidia “has not refreshed prior datacenter GPUs in the past, so this represents further evidence of [Nvidia] accelerating their product cadence in response to AI market growth and performance requirements, which further expands their competitive moat,” Wolfe Research analyst Chris Caso noted. Shares of Nvidia rose 0.6% in Monday trading to notch their ninth session in a row of gains. That made for the stock’s longest winning streak since Dec. 27, 2016, when it rose for 10 trading days in a row, according to Dow Jones Market Data. The stock has advanced more than 19% during the current nine-session stretch. Opinion: This Nvidia partner has seen its stock surge 200% this year. But investors may be overlooking a risk. Nvidia shares, which closed Monday at $486.20, are hovering 1.5% below their all-time closing high of $493.55, which was achieved Aug. 31. Mizuho desk-based analyst Jordan Klein weighed in Monday on Nvidia’s rally over the past week, writing that the gains in shares of Nvidia, Broadcom Inc.
AVGO,
-1.11%
and Taiwan Semiconductor Manufacturing Co.
2330,
+2.51%
seemed to reflect traction among “real” long-only investors and retail buyers, while gains for Advanced Micro Devices Inc.
AMD,
…

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