Nvidia Impresses Analysts With 'Back-To-Back Miraculous Quarters': Are Estimates Too Modest?
Portfolio Pulse from Chris Katje
NVIDIA Corporation (NASDAQ:NVDA) reported Q2 financial results that beat analysts’ estimates. Analysts from Goldman Sachs, Wedbush, Susquehanna, Morgan Stanley, Bernstein, and KeyBanc reacted positively, raising their price targets. The company saw strong demand for its generative artificial intelligence and improving supply chain. Analysts predict sustained revenue growth through 2024 due to strong demand for its Data Center segment. However, competition from large cloud service providers and other semiconductor companies is expected.
August 24, 2023 | 3:30 pm
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NVIDIA's Q2 results exceeded analysts' expectations, leading to raised price targets. The company's strong AI demand and improving supply chain are expected to drive sustained revenue growth.
NVIDIA's better-than-expected Q2 results and positive outlook have led analysts to raise their price targets. The company's strong demand for its AI and improving supply chain are expected to drive sustained revenue growth, which is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100