Nvidia Is Still 'Stepping On The AI Accelerator': 7 Analysts Size Up Q4 Results, Supply And Demand Dynamics
Portfolio Pulse from Chris Katje
Nvidia Corporation (NASDAQ:NVDA) surpassed analysts' revenue and EPS estimates for Q4, driven by strong demand for AI and data center products. Analysts from Goldman Sachs, Oppenheimer, Wedbush, Needham, KeyBanc, JPMorgan, and Bank of America have raised their price targets, citing new product launches, improved supply, and significant opportunities in generative AI and sovereign AI builds. Concerns include supply constraints and competition, but overall sentiment is bullish, with expectations of continued growth, especially in data center and AI applications.
February 22, 2024 | 4:50 pm
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Nvidia's Q4 earnings beat, driven by AI and data center demand, has led to increased price targets from several analysts. New products and a focus on generative AI are expected to sustain growth.
The unanimous positive outlook from multiple analysts, along with raised price targets, indicates strong confidence in Nvidia's continued growth, especially in AI and data center sectors. The company's ability to beat high expectations and the emphasis on new product launches and AI applications support a bullish short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100