Nvidia Posts Second Consecutive Gain Following Buyback Boost

Nvidia (NVDA) closed at $228.58 on October 1st, up 0.51% from its previous close. This marks a second consecutive day of gains for the company after a significant buyback boost to $235B total.

The technical score is 91 bullish, while news sentiment stands at 63 bullish. Trading around $8 below its all-time high (ATH) of $236.54, NVDA's fundamentals remain in focus.

In Q2, Nvidia reported revenue of $96.22B, exceeding estimates by $3.95B and EPS of $2.22, a 105.9% YoY increase. The company guided next quarter to $108B, representing an 89% year-over-year growth rate. For fiscal year 2027, NVDA projects revenue to reach $411B, a 90% increase from the previous year.

Despite its growth prospects, Nvidia's P/E ratio has compressed by 38% this year to 28.5, which is lower than the Nasdaq average of 39 and forward P/E of 25, the lowest in a decade. The company has also initiated a buyback program that represents 2.8% of its shares, with plans to return 50% of free cash flow.