Did Nvidia Inflate Q2 Results? Analyst Says 'Don't Get Your Investment Thesis From Twitter Randos'
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) was accused by social media users of inflating its Q2 revenue through sales of GPUs to CoreWeave, a company in which Nvidia is a strategic investor. Bernstein analyst Stacy Rasgon defended Nvidia, stating that the accusations were baseless. He explained that the mismatch between revenue growth and cost of goods growth was due to charges Nvidia incurred a year ago. Rasgon maintains an 'Outperform' rating and $675 price target for Nvidia stock.
September 09, 2023 | 10:53 pm
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Nvidia was accused of inflating its Q2 revenue, but was defended by a Bernstein analyst who maintains an 'Outperform' rating and $675 price target for the stock.
The accusations of inflated revenue could have caused uncertainty among investors, potentially impacting Nvidia's stock price. However, the defense from a Bernstein analyst, along with the maintained 'Outperform' rating and price target, could reassure investors and stabilize the stock price.
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