Piper Sandler analyst Harsh Kumar reiterates an Overweight rating on Nvidia with a $275 price target after surveying gamers across the United States in order to get a better grasp of current gaming trends. The survey suggests gamers are buying or upgrading graphics processing units the near-term, likely driven by the recent holiday season, Kumar tells investors in a research note. In addition, the analyst is encouraged that nearly 75% of the respondents are either increasing or maintaining their GPU spending patterns. He sees "slight upside potential" for Nvidia's January quarter and the ability for the company to meet April quarter estimates.

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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.

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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