Krungsri Securities (KSS) expected Thailand’s SET Index to challenge the resistance level of 1,410-1,420 points, supported by foreign fund flow following the support measures in China, buying pressure in the energy sector from rising crude oil price amid concerns in the Middle East. A buy on stocks with unique catalysts could also help push the market higher. However, the analyst cautioned investors on sell the fact after the earnings results.
The share price of Nvidia rose to a record high of $785.38 per share on Thursday, gaining 16.40% during the session after the company’s earnings beat market expectations.
Nvidia’s target prices were raised by major brokers with some analysts expecting the share price to rise as high as $1,000 a piece.
Earnings per share for the fourth quarter was $5.16, up 765% YoY and also beating expectations of $4.60 per share.
Nivdia said revenue was $22.1 in the final quarter, which was also above analysts’ expectations for $20.4 billion.
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Jensen Huang, founder and CEO of Nvidia.
The management said that the outlook for the current quarter was strong and also above Wall Street forecasts.
Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after years of waiting when it was first reportedly filing confidentially back in December 2021.
The social media company plans to trade on the New York Stock Exchange under the symbol “RDDT.”
This could be the first social media company to enter the market after the IPO of Pinterest in 2019.
