Millennial investors are having a big payday as this popular tech stock soars
The graphic-chips maker is soaring 13% after its first-quarter earnings results released on Tuesday beat analysts' expectations.
Nvidia is the sixth-largest holding with millennials on the trading platform Robinhood, according to Sahill Poddar, the company's data scientist.
Nvidia reported a 48.4% jump in quarterly revenue, helped by demand for its chips that are used by major providers of cloud computing, Reuters reported. Revenue from its gaming business jumped nearly 50% to $1.03 billion.
Nvidia's stock has surged 218% over the past year.
AMD, a competitor in the market for graphics processing units, is the top holding on Robinhood. In contrast, its earnings sent the stock tumbling by 24% after disappointing forecasts for gross margins.
More from Akin Oyedele:
- Hundreds of investors say these 10 finance books are must-reads
- Disney beats on earnings, misses on revenue amid weakness at ESPN (DIS)
- Silver has entered a downward spiral and the rest of the year looks bleak
- Bumble Bee will plead guilty for fixing canned-tuna prices
- BUFFETT ON GOOGLE: Imagine having a business where 'a cash register rung somewhere out in California' every time someone clicks (GOOGL)