Nvidia Gets A New Street-High Price Target After Blowout Quarter
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. received a new Street-high price target of $500 from KeyBanc Capital Markets analyst John Vinh after its impressive Q1 earnings. The analyst cited strengthening demand in generative AI for Hopper and Ampere GPUs, record high data center revenue, and a collaboration with Microsoft as key drivers.
May 25, 2023 | 11:21 am
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POSITIVE IMPACT
Nvidia's Q1 earnings exceeded expectations, driven by demand in generative AI, record high data center revenue, and collaboration with Microsoft. KeyBanc analyst John Vinh raised the price target to $500.
Nvidia's Q1 earnings were impressive, driven by demand in generative AI for Hopper and Ampere GPUs, record high data center revenue, and collaboration with Microsoft. This led KeyBanc analyst John Vinh to raise the price target to $500, suggesting a 64% upside potential. This positive news is likely to have a short-term positive impact on Nvidia's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Microsoft's recent collaboration with Nvidia on generative AI was cited as a driver for Nvidia's gaming segment in its Q1 earnings report.
Microsoft's collaboration with Nvidia on generative AI was mentioned as a driver for Nvidia's gaming segment in its Q1 earnings report. While this collaboration is positive for both companies, the direct impact on Microsoft's stock price in the short term is uncertain, as the news is more focused on Nvidia's performance.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50