Nvidia's (NVDA) can nearly double according to BofA, which reiterated its buy rating on the A.I. giant. Jenny Horne talks about what's driving the bullish sentiment, which includes the company's upcoming appearance at the GPU Tech Conference.
Nvidia Corporation's 20% stock drawdown presents a robust buying opportunity ahead of the GTC 2025 event, where key updates on TAM, products, and AI ecosystem are anticipated. Nvidia's CEO Jensen Huang is expected to address market challenges, emphasizing product refresh cycles and the company's AI ecosystem. Nvidia aims to solidify its market dominance against peers like Broadcom and AMD, focusing on TCO savings and potential expansion beyond a trillion-dollar TAM.
BofA reiterated its buy rating on Nvidia (NVDA) as the stock sees a CPI-assisted bump higher. It also comes ahead of the company's much-anticipated GTC conference next week.
The DeepSeek induced sell-off, bursting AI bubble, potentially intensified tariff war/ chips ban, and uncertain macroeconomic outlook have already triggered a massive market wide selloff. With NVDA already losing -$1T of its value, we believe that the correction has been overly done as the stock trades attractively below historical levels and its peers. If anything, the company is likely to report excellent prospects in 2025/ 2026, as similarly observed in the management's promising guidance and tailwinds from Blackwell ramp-up.
The main chips producers are all looking to rally a bit in the early hours of Wednesday, as premarket trading looks to be full of value hunters out there.
The past three months haven't been great for Nvidia (NVDA 1.66%) investors as shares of the graphics card specialist have dropped nearly 20% during this period, dropping at a much faster pace when compared to the S&P 500 index's drop of 8%.
The NASDAQ index has officially moved into correction territory. That means a drop of more than 10% from its most recent high in December 2024.
Investors always want to find the next big thing. That's especially true in the fast-moving technology sector.
Nvidia (NASDAQ: NVDA) has experienced a sharp downturn, falling 27% from its January high of $148, extending its year-to-date decline to 19%.
Don't expect the chip maker's shares to stop swinging about anytime soon, as tariffs unnerve markets.
For well over two years, the stock market has been roaring higher, with all three major indexes -- the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite -- reaching multiple record-closing highs.
Everyone loves turnaround Tuesday with the stock market.