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GTC 2024: Will NVIDIA hit the $1,000 mark?
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Nasdaq Closes at Another Record, Buoyed by Nvidia, Google

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Luzi Ann Santos joined discussion · Mar 22 13:22
The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ outperformed Friday, staying on its record-breaking upward trajectory, as $NVIDIA (NVDA.US)$ shares rallied, lifting the broader index.
Nasdaq Closes at Another Record, Buoyed by Nvidia, Google
Nvidia continued to carry the Nasdaq on its back, helping the gauge post gains at a time when other major indices are pausing to take a breather from their record-breaking rally. Nasdaq gained 0.2% to 16,428.82, while the $S&P 500 Index(.SPX.US)$ was little changed and the $Dow Jones Industrial Average(.DJI.US)$ slipped 0.8% to 39,619.21.
Nvidia advanced 3.1% to $942.89 in New York, making it the biggest gainer on the index. $Alphabet-A (GOOGL.US)$ rebounded 2.2%,
Nasdaq Closes at Another Record, Buoyed by Nvidia, Google
The market leader in semiconductors designed to power artificial intelligence applications is getting love from a lot of analysts. UBS Securities analysts raised their price target on the stock to $1,100 from $800, MT Newswires reported. Thirteen other analysts boosted their price target this week, according to a Benzinga report yesterday.
UBS analysts, including Timothy Arcuri expect Nvidia's new product launches, including the recently unveiled Blackwell computing platform to fuel the semiconductor company's "solid growth" in its fiscal 2026, MT Newswires reported.
After the company launched its Blackwell platform, the analysts said they're confident that Nvidia "sits on the cusp of an entirely new wave of demand from global enterprises and sovereigns -- with each sovereign potentially as big as a large US cloud customer," the report quoted UBS analysts as saying.
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  • intuitive Jackal_354 : the nasdaq didn't close at a record high today, you need glasses

  • Luzi Ann SantosOP intuitive Jackal_354: Hi there. Thanks for reading this story. Our data showed it's a closing high. You probably meant intra-day high. If it were an intra-day high, I would have written - "The index rose to a record 16,XXX, before closing at 16,XXXX. "Instead, the headline reads: Nasdaq Closes at Another RecordYou may notice CNBC has the same writing style. They wrote in their daily market report: "The Nasdaq Composite added 0.16% and closed at 16,428.82 for another record."

    I used the daily chart for Nasdaq in the story, which may have been what confused you. I'll change to a longer-term chart, just to be clear. Here's the closing chart on moomoo.



    The WSJ and Bloomberg seem to have the same data. If you're using a more authoritative data source that has a different closing high, let me know and I'll take a look. I'd be happy to correct it, if the story is wrong.Again, thanks for the feedback. Luzi

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Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
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