Nvidia (NVDA) held its annual shareholder meeting on Wednesday, with investors approving all four proposals presented and CEO Jensen Huang highlighting the chipmaker's new Blackwell platform, as well as opportunities for the company to gain as artificial intelligence (AI) tech evolves.
Nvidia's market cap dropped around $500 billion since it became the world's most valuable company. Skittish investors had been awaiting its annual meeting for comments that might reverse the trend.
Although semiconductor giant Nvidia (NASDAQ: NVDA ) has recently encountered volatility after a blistering run, analysts continue to see upside in NVDA stock. The latest endorsement comes from Cantor Fitzgerald, with its expert team raising the price target to $175 from $140.
Cantor Fitzgerald analyst C J Muse maintained Nvidia Corp NVDA with an Overweight and raised the price target from $140 to $175.
Nvidia CEO Jensen Huang answered shareholder questions at the company's first shareholder meeting since its stock began to surge. Since last year's meeting, Nvidia has been on a historic run: Its stock is up 193%, the company passed a $3 trillion valuation and it briefly reached the status of most valuable company in the U.S.
Graniteshares 2x Short NVDA Daily ETF allows investors to take a short position on Nvidia shares in tax-deferred IRA and 401-k accounts. The NVD ETF has outlined gains during periods of sharp decline in Nvidia's stock price, but its long-term performance has been poor. Investors should approach this ETF with caution, as it is a high-risk, short-term instrument for speculating on a significant decline in Nvidia's stock quote.
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Citi this morning increased its price target on Nvidia (NASDAQ: NVDA ) stock to $150 from $126. Citi also kept a “buy” rating on NVDA.
The semiconductor industry has been a reliable segment for long-term investors for many years. Many chipmakers have benefitted from artificial intelligence tailwinds as companies rush to capitalize on the new technology.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.