Reported 11 months ago
Chip giant NVIDIA experienced a turbulent week with its stock initially hitting all-time highs, then reversing to close down 2.5%. NVIDIA-heavy ETFs like SHOC, WUGI, DARP, and SMH also fluctuated. Despite this, Bank of America maintains a Buy rating with a price target of $150, emphasizing NVIDIA as a top pick. Analysts foresee potential profit-taking but remain optimistic about NVIDIA's long-term prospects, cautioning against the AI enthusiasm potentially creating a bubble. Moor Insights & Strategy's Patrick Moorhead highlights the importance of downstream partners' profitability like Adobe, Salesforce, SAP, and ServiceNow for NVIDIA's growth. Analysts believe NVIDIA could reach a $4 trillion market cap based on continued AI investment and data center spending. The average price target for NVIDIA from 41 analysts is $124.79.
Source: YAHOO