After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* When our award-winning analyst team has a stock tip, it can pay to listen. Investors feared the government restrictions would pinch revenue growth, but it turns out the sky isn't falling and investors should stay the course. In its fiscal 2023 second quarter (ended July 31), revenue from the segment grew 61% year over year and represented more than half the company's total revenue.
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It's important to note that the data center segment has become an important growth driver for Nvidia. He further noted that the restrictions place specific thresholds on performance, leaving "a large space for us" in China. In a press conference following GTC, CEO Jensen Huang said he still believes there's an ample market for data center processors, in spite of the recent limitations. government had imposed restrictions on high-end chip sales to China. Earlier this month, Nvidia stock slumped on news that the U.S. This will likely drive "material" revenue growth and a rebound in Nvidia's gaming segment, he said. His "biggest takeaway" from the event was Nvidia's pricing power, as the company plans to hike prices by roughly 28% on the high-end graphics processing units (GPU) used by gamers.
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He noted that Nvidia continues to be "one to two steps" ahead of the competition in terms of semiconductors, software integration, and ecosystem adoption.įinally, Morgan Stanley analyst Joseph Moore maintained his equal weight (hold) rating and $182 price target - representing potential gains of 38%. Morgan analyst Harlan Sur was also bullish, maintaining his overweight (buy) rating and $220 price target on Nvidia - suggesting potential gains of 67%. More importantly, he believes the current headwinds are transitory and the investing thesis remains intact. Schafer cited the pending launch of Nvidia's GeForce 40 Series, noting that he believes the company's gaming business is now de-risked, given the recent stock price decline and reset of expectations. Oppenheimer analyst Rick Schafer maintained his outperform (buy) rating and $250 price target on the stock, which represents 90% upside for investors compared with Tuesday's closing price. The catalyst that sent the semiconductor specialist higher was analyst reaction to announcements made during Nvidia's 2022 Global Technical Conference (GTC). Nonetheless, new buyers chasing the NVIDIA stock price higher must accept that many prospects may already be baked into the price.ĭon’t miss a beat! Follow us on Telegram and Twitter.Shares of Nvidia (NASDAQ: NVDA) surged higher Wednesday, jumping as much as 3.3%. To summarise, if I were a long term holder, I would be happy to let this one run. Whilst this isn’t a prediction of impending doom, it does point to a market that needs to cool down to continue an orderly ascent.
The Relative Strength Index reading of 80.13 is a sign that NVDA is overbought. However, the indicators are starting to get stretched. Now, this is not to say the stock won’t continue to go higher. It becomes a little tricky to advocate buying at this price considering the vertical lift-off over the recent weeks. Not only that, the stock is $176% higher than its pre-pandemic record of $292.00.
Subsequently, NVIDIA has gained 357% from the March 2020 low. NVDA price predictionĬlearly, the global pandemic created a perfect storm for the NVDA stock price. The NVIDIA stock price has gained 12% since the report’s release, so I guess that question has been answered. On the 17th, I asked: ‘Can NVDA’s record run continue?’ Of late, the reasons to buy the stock seems to be increasing almost daily. The Chipmaker’s strength was a major contributor to the Tech-heavy Nasdaq 100, setting its own record close at 14,500.50.Īn announcement that NVDA will partner with Alphabet Inc ( GOOG: NASDAQ) in a new Artificial Intelligence (AI) project provided additional fuel for the rally. NVIDIA Corp ( NVDA: NASDAQ) surged by $38.16 (+5.01%) to its highest-ever closing price of $799.40, following rival Broadcom Inc’s ( AVGO: NASDAQ) support of its proposed takeover of UK chipmaker Arm.
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