Needham analyst Rajvindra Gill upgraded Nvidia to Hold from Underperform after his "positive" meeting with the company's management at CES. The analyst notes that his prior downgrade was based on the expectations of a "significant" global macro slowdown that would impede the purchases of graphics cards and reduced hyperscaler spending, but instead 2019 saw an "aggressive channel refill". Gill further cites positive signs of momentum in gaming as attach rates for tracing games have accelerated, while hyperscaler spending has resumed to sustain AI workloads, though he also sees Nvidia's 34-times his expected FY21 valuation as "full".

Notable profits for the buyer who lifted the $28.91 offer for 2,012 NVIDIA (NVDA) May-24 820 calls yesterday at 09:39ET when underlying shares were trading at $793.05. Shares closed at $826.32, and the calls at $41.12 for a mark-to-market profit of 42%, or $2457K, on the $5816K outlay.

As previously reported, Erste Group downgraded AMD (AMD) to Hold from Buy. The valuation is "significantly higher than the P/E ratio of the peer group," as well as compared to "much stronger competitor" Nvidia (NVDA), the analyst tells investors. The firm adds that upside potential for AMD "appears limited at present."

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Wednesday's total option volume of 42.3 million contracts resulted in net open interest growth of 4.78 million calls and 3.88 million puts. Tesla (TSLA), Meta Platforms (Facebook) (META), Ford (F) and NVIDIA (NVDA) saw the greatest growth. Top five new positions opened include 42k Tesla (TSLA) Aug-24 185 calls, 35k Taiwan Semi (TSM) Aug-24 110 calls, 30k Capri Holdings (CPRI) May-24 35 calls, 29k Ford (F) 4/26 weekly 13.5 calls and 26k Tesla (TSLA) 5/3 weekly 75 puts.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Microsoft (MSFT) is scheduled to report results of the third quarter of its fiscal year 2024 after the market close on Thursday, April 25, with a conference call scheduled for 5:30 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here