Unpacking Nvidia's Dominance and New Milestones in AI and Computing Platforms: Analysts
Portfolio Pulse from Anusuya Lahiri
Citi analyst Atif Malik maintained a Buy rating on Nvidia with a price target of $420, highlighting the company's recent announcements at Computex 2023. Nvidia's new products and AI accelerator dominance could potentially tap into a $1 trillion+ accelerated computing TAM. Mercury data for 1Q23 shows Nvidia's significant gains in the client and data center markets compared to AMD.
May 31, 2023 | 6:49 pm
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Mercury data for 1Q23 shows Nvidia's significant gains in the client and data center markets compared to AMD, with Nvidia's reported DC revenues of $4.28 billion, up 19% Q/Q and up 14% Y/Y, while AMD's 1Q23 revenues were $40 million, down 11% Q/Q and down 15% Y/Y.
The Mercury data for 1Q23 shows Nvidia's significant gains in the client and data center markets compared to AMD, which indicates a negative impact on AMD's stock price in the short term. The widening gap between the two companies' revenues and market shares could lead to a decrease in investor confidence in AMD.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Citi analyst Atif Malik maintained a Buy rating on Nvidia with a price target of $420, highlighting the company's recent announcements at Computex 2023 and potential to tap into a $1 trillion+ accelerated computing TAM.
The Buy rating and price target of $420 indicate a positive outlook for Nvidia's stock. The company's new products and AI accelerator dominance could potentially tap into a $1 trillion+ accelerated computing TAM, which would significantly boost its revenues and market share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100