Nvidia Stock In Position To Climb As Chipmaker Remains Main 'Shovel Provider' In The AI Gold Rush, Says Goldman Sachs
Portfolio Pulse from Adam Eckert
Goldman Sachs has added NVIDIA Corp (NASDAQ:NVDA) to its conviction list, citing the company's strong position in the AI space. The firm believes NVIDIA is well-positioned to benefit from increasing demand as supply dynamics improve. The company's data center sales nearly tripled YoY last quarter, indicating the growing importance of its GPUs for customers seeking greater compute power. Goldman Sachs also highlighted NVIDIA's ability to keep up with demand as supply constraints ease and its successful management of supply chain bottlenecks. The firm has set a price target of $605 for NVIDIA shares.
October 02, 2023 | 4:23 pm
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Goldman Sachs has added NVIDIA to its conviction list, indicating a strong belief in the company's future performance. The firm's positive outlook on NVIDIA's position in the AI space and its ability to manage supply chain issues could boost investor confidence.
Goldman Sachs' addition of NVIDIA to its conviction list signals a strong belief in the company's future performance. This, coupled with the firm's positive outlook on NVIDIA's position in the AI space and its ability to manage supply chain issues, could boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100