High-Flier Nvidia Could Rally Another 70% On 'Extremely Strong' AI Data Center Demand, Says Analyst
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) has seen a remarkable rally, surging over 200% year-to-date. Analyst John Vinh from KeyBanc Capital Markets believes there's still room for growth, raising the price target from $670 to $750. Despite weak demand in China, AI data center demand remains strong, outpacing supply by approximately 20%. Nvidia, Synaptics Inc. (NASDAQ:SYNA), Intel Corp. (NASDAQ:INTC), and Qorvo, Inc. (NASDAQ:QRVO) are benefiting from rush orders in the Android smartphone supply chain. Vinh predicts that the Microsoft Corp. (NASDAQ:MSFT)/Open AI alliance will procure 450,000 Nvidia GPUs this year, translating to $11 billion in revenue.
October 03, 2023 | 8:20 am
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Intel Corp. is benefiting from rush orders in the Android smartphone supply chain.
The company is mentioned as one of the beneficiaries of the rush orders in the Android smartphone supply chain, which could positively impact its stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft Corp. is expected to procure 450,000 Nvidia GPUs this year, translating to $11 billion in revenue.
The company's procurement of Nvidia GPUs could potentially increase its revenue, which could positively impact its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Nvidia's stock has potential for further growth due to strong AI data center demand and rush orders in the Android smartphone supply chain. The price target has been raised from $670 to $750.
The analyst's positive outlook, based on strong AI data center demand and rush orders in the Android smartphone supply chain, suggests potential for further growth in Nvidia's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Qorvo, Inc. is benefiting from rush orders in the Android smartphone supply chain.
The company is mentioned as one of the beneficiaries of the rush orders in the Android smartphone supply chain, which could positively impact its stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Synaptics Inc. is benefiting from rush orders in the Android smartphone supply chain.
The company is mentioned as one of the beneficiaries of the rush orders in the Android smartphone supply chain, which could positively impact its stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50