Nvidia (NASDAQ:NVDA), a leading tech giant, is experiencing a surge in its stock value in premarket trading on Tuesday, outperforming its peers in the Magnificent Seven.
The rise in Nvidia’s shares comes ahead of its eagerly awaited earnings report, which is due to be published on Wednesday.
In premarket trading, Nvidia’s shares have seen an increase of up to 2.9%. This rise comes in tandem with a positive trend in US stock futures. The S&P 500 contracts have risen by 1.5%, while Nasdaq 100 futures are 1.4% higher, indicating a favorable market sentiment.
Other stocks in the Magnificent Seven, a group comprising of seven of the largest tech companies globally, have also seen an increase in their value. Tesla (NASDAQ:TSLA)’s shares have risen by 2.7%, Alphabet (NASDAQ:GOOGL)’s by 2.3%, Meta (NASDAQ:META)’s by 2.1%, Apple (NASDAQ:AAPL)’s by 2%, Amazon (NASDAQ:AMZN)’s by 1.9%, and Microsoft (NASDAQ:MSFT)’s by 1.3%.
However, despite the positive trend among these tech giants, Nvidia’s performance stands out, as it leads the pack with the highest premarket surge among its Magnificent Seven peers.
