Nvidia Analysts Hail 'Jaw Dropper' Q3, But Downplay China Setback To Focus On Bigger Picture: 'This Is A 1995 Moment'
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NVDA) reported Q3 earnings that impressed analysts despite a lackluster investor response. Wedbush analyst Daniel Ives highlighted Nvidia's AI-driven results as a 'jaw-dropper' and compared the current AI developments to the internet boom of 1995. KeyBanc's John Vinh noted strong generative AI demand and the potential multibillion revenue from the GH200 Grace Hopper super chip. Despite a significant expected drop in Q4 sales to China due to regulations, Nvidia anticipates strong global demand. Gene Munster of Deepwater Asset Management echoed positive sentiments, emphasizing Nvidia's unmatched GPUs and CUDA toolkit for AI infrastructure. Nvidia's stock fell 1.74% in after-hours trading post-earnings announcement.
November 22, 2023 | 9:18 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Nvidia's Q3 earnings impressed analysts, with strong AI-driven results and potential growth from the GH200 Grace Hopper chip. Despite a drop in China sales, global demand remains strong. Analysts maintain positive outlooks with high price targets.
Analysts' positive remarks on Nvidia's AI capabilities and the potential of the GH200 chip, along with the anticipation of strong global demand, suggest a positive short-term impact on NVDA's stock price. The drop in after-hours trading may be a knee-jerk reaction to the China sales news, but the overall analyst sentiment is highly optimistic, indicating a potential rebound.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100