Goldman Sachs Is Bullish On Nvidia Ahead Of Earnings: Risk-Reward For AI Stock 'Favorable'
Portfolio Pulse from Piero Cingari
Goldman Sachs maintains a bullish outlook on Nvidia (NASDAQ:NVDA) ahead of its earnings release, citing strong AI demand and data center growth. Despite potential delays in GPU launches, Nvidia's long-term growth is expected to be driven by cloud service providers and enterprises. The bank's scenarios suggest significant upside potential, with a 12-month price target of $135.
August 19, 2024 | 3:40 pm
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AMD's revised full-year Data Center GPU revenue outlook to $4.5 billion indicates strong AI demand, which could positively impact its stock price.
AMD's revised revenue outlook for its Data Center GPU segment suggests strong AI demand, which is a positive indicator for its stock price. This aligns with the overall positive sentiment in the AI sector, as highlighted by Nvidia's outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Goldman Sachs reaffirms a bullish stance on Nvidia, expecting strong data center growth to drive earnings. Despite potential GPU launch delays, Nvidia's AI demand remains robust, with a 12-month price target of $135.
Goldman Sachs' positive outlook on Nvidia is based on strong AI demand and data center growth, which are expected to drive earnings. The bank's scenarios suggest significant upside potential, with a 12-month price target of $135. This indicates a likely positive impact on Nvidia's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TSMC's report of a 28% sequential increase in HPC revenue highlights strong demand in the AI sector, which could positively impact its stock price.
TSMC's significant increase in HPC revenue indicates strong demand in the AI sector, which is a positive sign for its stock price. This trend supports the bullish outlook for companies involved in AI, like Nvidia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30