Nvidia Shares Drop On Worries Over China Export Ban: Why Are Analysts Still Bullish?
Portfolio Pulse from Piero Cingari
NVIDIA Corp. (NASDAQ:NVDA) shares fell over 1% due to concerns about the potential impact of US export restrictions to China on the company's business. Despite the drop, analysts from Rosenblatt Securities and Bank of America remain bullish, citing minimal impact of the restrictions on NVIDIA's sales and the potential for the large AI accelerator market to offset any potential restrictions in the Chinese market. Goldman Sachs also maintains a Buy rating on NVDA, viewing any fluctuations as an opportunity to increase positions.
June 29, 2023 | 8:10 pm
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NVIDIA's stock fell due to concerns about US export restrictions to China, but analysts remain bullish, citing minimal impact on sales and potential market offsets.
The news directly pertains to NVIDIA and its potential challenges due to US export restrictions to China. However, analysts remain optimistic about the company's prospects, which could mitigate the negative impact on the stock.
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