Analyst Draws Parallel Between Nvidia And Apple, Believes Investors Can Still Ride The Wave Despite 200% Surge This Year
Portfolio Pulse from Benzinga Neuro
Analyst Ben Reitzes from Melius Research has drawn parallels between Nvidia Corp. and Apple Inc., citing Nvidia's full-stack approach as a key factor for potential outsized profit share in the industry. Despite Nvidia's shares soaring more than 200% this year, Reitzes suggests that investors haven't missed the opportunity. He initiated coverage of Nvidia with a buy rating and a $625 price target. BofA Securities analyst Vivek Arya also expressed optimism about Nvidia’s future, raising his price objective on the stock to $550 from $500.
July 19, 2023 | 11:22 am
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NEUTRAL IMPACT
Apple Inc. was mentioned as a parallel to Nvidia's strategy, suggesting a similar potential for outsized profit share in the industry.
While Apple was mentioned as a parallel to Nvidia's strategy, the news does not directly impact Apple's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Analyst Ben Reitzes from Melius Research initiated coverage of Nvidia with a buy rating and a $625 price target, suggesting potential for outsized profit share in the industry.
The analyst's positive outlook on Nvidia, along with the initiation of coverage with a buy rating and a high price target, suggests a potential positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100