Nvidia Maintains Lead As Key AI beneficiary, Analyst Boosts Estimates After Taiwan Event
Portfolio Pulse from Anusuya Lahiri
Mizuho analyst Vijay Rakesh has boosted estimates for Nvidia (NVDA) following a Taiwan event, citing substantial opportunities with its Hopper platform and upcoming products. Rakesh also highlighted potential catalysts for Arm Holdings (ARM) and Micron Technology (MU), and reiterated Buy ratings for Advanced Micro Devices (AMD) and Intel Corp (INTC).
June 04, 2024 | 6:24 pm
News sentiment analysis
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Mizuho analyst Vijay Rakesh reiterated a Buy rating for AMD with a price target of $215, highlighting a robust roadmap and significant improvements in data center compute share.
The analyst's positive outlook and increased price target for AMD, along with significant improvements in data center compute share, are likely to drive short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Nvidia's announcement of Rubin 3nm GPU and Vera CPU for 2026 and 2027, which include HBM4 support and enhanced networking, is expected to act as a catalyst for Arm Holdings.
Nvidia's advancements in GPU and CPU technology are likely to positively impact Arm Holdings, given their involvement in similar tech ecosystems.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Mizuho analyst Vijay Rakesh reiterated a Buy rating for Intel with a price target of $45, expecting a focus on AI PCs and new products at Computex.
The analyst's positive outlook and reiterated Buy rating for Intel, along with expectations for new product announcements, are likely to drive short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Nvidia's new product announcements, including HBM4 support, are expected to act as a catalyst for Micron Technology.
Micron Technology is likely to benefit from Nvidia's advancements in HBM4 support, which could drive demand for Micron's memory products.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Mizuho analyst Vijay Rakesh has increased his price target for Nvidia to $1,275, citing substantial opportunities with its Hopper platform and upcoming products. The analyst also noted a 10-1 share split set for June 7, which could attract retail investors.
The analyst's increased price target and positive outlook on Nvidia's products and share split are likely to drive short-term price appreciation.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100