NVIDIA has done it again! What will the week bring?

The past week, although full of important moments, turned out to be very ambiguous. Major stock indices continue to defend their support levels, and investors' attention has focused more on the financial results published by the NVIDIA.

NVIDIA positively surprised

The producer of graphics processors in the last quarter announced a huge increase in results, which ultimately turned out to be better than expected. The company recorded USD 13,51 billion in revenues (nearly twice as much as last year) with a simultaneous increase in forecasts for future results. NVIDIA management is therefore extremely confident in the demand for graphics cards that are driving the current AI revolution. In reaction to the latest report, the price of NVIDIA's share exceeded $ 500 per share, and although profit-taking appeared on the chart quite quickly, US analysts rushed to update the valuation. So how much can NVIDIA shares cost?

Although NVIDIA's results turned out to be excellent, the data on business activity was quite the opposite. European PMI indices remain clearly below the 50-point threshold, and a clear cooling of the situation in the services sector may be worrying. Paradoxically, the market reacted to this data… optimistically – the end of interest rate hikes in the west is still highly anticipated. But the voices emanating from Jackson Hole were far from dovish. So what to expect in the months after Fed i EBC?

In today's webinar:

• How much can NVIDIA shares cost?
• Is the economic slowdown accelerating?
• What next for the price of crude oil?

About the host

Dr Przemysław Kwiecień - Chief economist X-Trade Brokers. Doctor of Economics at the University of Warsaw, graduate of the University of Warsaw and London Metropolitan University (MSc). Holder of the prestigious CFA certificate. He has been working for XTB since 2007, previously he gained experience as an advisor to the Minister of Finance, Mirosław Gronicki, and an economist at Bank Millennium. At XTB, he manages the Analysis Department.

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