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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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
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