Is Nvidia the New Tech Titan? Analyst Elevate It Above AMD
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Harsh V. Kumar has reiterated an Overweight rating on Nvidia Corp (NVDA) with a price target of $620, making it his top large-cap pick over AMD. Kumar highlights Nvidia's compelling valuation, complete computing stack, software license revenue potential, and strong FY25 visibility due to backlog and demand. He also anticipates new China chip revenue of $2.5-$3 billion per quarter. Nvidia's Q4 revenue and EPS projections are $20.09 billion and $4.49, respectively, aligning with consensus.
December 04, 2023 | 6:49 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Nvidia receives a strong endorsement from Piper Sandler analyst Harsh V. Kumar with a reiterated Overweight rating and a $620 price target. The company's complete computing stack, software revenue potential, and visibility into FY25 are highlighted as key advantages.
The analyst's positive outlook and high price target for Nvidia, along with the mention of significant revenue potential from a new China chip, are likely to instill confidence in investors and could lead to a short-term positive impact on NVDA's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
While AMD remains a premier player in the computing space, Nvidia is now preferred by Piper Sandler analyst Harsh V. Kumar due to its more compelling valuation and complete product stack.
The shift in preference by the analyst from AMD to Nvidia could potentially have a negative short-term impact on AMD's stock as investors may perceive Nvidia as a better investment opportunity.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70