What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) stock is trading higher amid reports of its plans to secure a long-term stake in the Softbank Group Corp (SFTBF, SFTBY) backed British chip designer Arm IPO. Truist analyst William Stein reiterated a Buy rating on Nvidia and raised the price target to $545 from $470. Stein raised his NVDA data center's end market revenue growth expectations for 2Q23 and several future quarters. NVDA management has highlighted recent capacity investments to support a much stronger second-half revenue outcome.
July 14, 2023 | 1:50 pm
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POSITIVE IMPACT
Nvidia's stock is trading higher due to its plans to secure a stake in Arm IPO and a raised price target by Truist analyst. The company's management has also highlighted capacity investments for stronger revenue.
The news of Nvidia's plans to secure a stake in Arm IPO and the raised price target by Truist analyst are positive developments for the company. This, along with the company's management highlighting capacity investments for stronger revenue, is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Softbank's backed British chip designer Arm IPO is where Nvidia plans to secure a long-term stake.
While the news is primarily about Nvidia, it also mentions Softbank as the backer of Arm IPO where Nvidia plans to secure a stake. This could potentially have an indirect impact on Softbank's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Softbank's backed British chip designer Arm IPO is where Nvidia plans to secure a long-term stake.
While the news is primarily about Nvidia, it also mentions Softbank as the backer of Arm IPO where Nvidia plans to secure a stake. This could potentially have an indirect impact on Softbank's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50