Opportunities in DC, AI, Gaming, and Auto Drive Nvidia's Share Growth: Analysts
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) shares are trading higher after Morgan Stanley raised its price target from $450 to $500 and moved Nvidia to Top Pick over Advanced Micro Devices (AMD). Oppenheimer analyst Rick Schafer reiterated an Outperform rating on the stock, citing optimism on the Data Center (DC) inflection point led by accelerated computing and generative AI.
June 16, 2023 | 6:29 pm
News sentiment analysis
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NEGATIVE IMPACT
Advanced Micro Devices (AMD) may experience a neutral to slightly negative short-term impact as Morgan Stanley moved Nvidia to Top Pick over AMD.
Morgan Stanley's decision to move Nvidia to Top Pick over AMD indicates a preference for Nvidia in the short term. This could lead to a neutral to slightly negative impact on AMD's stock price as investors may shift their focus to Nvidia.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Intel Corp (INTC) may experience a neutral short-term impact as the article acknowledges Nvidia's dominance in training, but the focus remains on Nvidia and AMD.
The article acknowledges Nvidia's dominance in training, which could have a neutral impact on Intel's stock price in the short term. However, the main focus of the article is on Nvidia and AMD, so the impact on Intel is likely to be limited.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 25
POSITIVE IMPACT
Nvidia's share price is expected to rise in the short term as Morgan Stanley raised its price target to $500 and Oppenheimer analyst reiterated an Outperform rating, citing optimism in Data Center and AI.
The raised price target by Morgan Stanley and the Outperform rating by Oppenheimer analyst Rick Schafer indicate a positive outlook for Nvidia's stock price. The optimism in Data Center and AI sectors, which are key growth drivers for Nvidia, further supports the potential for share price growth in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100