What's Going On With Nvidia Stock Friday
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is trading higher after an upgrade from Daiwa Capital from Neutral to Outperform and a raised price target from $408 to $475. Analysts expect Nvidia to outperform its rivals, including Advanced Micro Devices, Inc. Despite U.S. export controls and a preexisting embargo restricting sales of some AI chips to China, Nvidia is expected to continue strong growth due to Gen AI adoption. The company's management does not expect a significant impact from potential new China export controls in the near term.
June 30, 2023 | 5:20 pm
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NEGATIVE IMPACT
Advanced Micro Devices, Inc is expected to be outperformed by Nvidia, despite the latter's challenges with U.S. export controls and a preexisting embargo.
Analysts expect Nvidia to outperform its rivals, including Advanced Micro Devices. This could potentially have a negative impact on AMD's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia's stock is expected to continue its strong performance due to Gen AI adoption and despite potential new China export controls. The company's stock has been upgraded by Daiwa Capital and its price target raised.
The upgrade from Daiwa Capital and the raised price target indicate a positive outlook for Nvidia's stock. Despite regulatory challenges, the company's strong position in the AI market is expected to drive its growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100