Nvidia

Nvidia CEO Says Cannot Keep Up With Demand In The Short Term As We Ramp.

By Emily Bary ‘Fundamentally, the conditions are excellent for continued growth’ in coming years, CEO says Nvidia Corp. cleared a high bar with its latest earnings Wednesday, sending its stock surging more than 8% in the extended session. The company beat top-line expectations by almost $2 billion for the most recent quarter, while doing the same with its outlook for the current one. Investors, though, have increasingly been focused on Nvidia’s (NVDA) long-term growth potential, and management’s message there also resonated. While acknowledging that Nvidia doesn’t offer guidance beyond the ongoing quarter, Chief Executive Jensen Huang said on the earnings call that “fundamentally, the conditions are excellent for continued growth” over the next two calendar years “and beyond.” The company is benefiting as general computing gives way to accelerated computing, and it’s seeing booming interest in generative artificial intelligence. Those areas have “hit the tipping point,” Huang said in Nvidia’s

Nvidia Corp. (NASDAQ:NVDA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 13.79% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 02/20/2024 61.5% Rosenblatt → $1100 Reiterates Buy → Buy 02/16/2024 23.33% Wells Fargo $675 → $840 Maintains Overweight 02/16/2024 24.8% Oppenheimer $650 → $850 Maintains Outperform 02/16/2024 17.46% Wedbush $600 → $800 Maintains Outperform 02/16/2024 76.19% Loop Capital → $1200 Initiates Coverage On → Buy 02/14/2024 24.8% Susquehanna $625 → $850 Maintains Positive 02/13/2024 21.13% Mizuho $625 → $825 Maintains Buy 02/12/2024 13.79% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 02/07/2024 10.12% Morgan Stanley $603 → $750 Maintains Overweight 02/05/2024 17.46% Goldman Sachs $625 → $800 Maintains Buy 01/29/2024 13.79% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 01/23/2024 13.79% Cantor Fitzgerald → $775 Initiates Coverage On → Overweight 01/19/2024 2.77% Raymond James $600 → $700 Maintains Strong Buy 01/18/2024

Telus International’s new artificial intelligence partner might be Nvidia, the designer and manufacturer of computer graphics processors, chipsets, and related multimedia software, says Scotiabank’s Divya Goyal. The analyst says that the stock has been gaining attention after the company reported that its AI data solutions team “is helping with the development of automatic speech recognition for the client’s pre-trained language models.” Goyal says in a report the client in question is likely to be Nvidia, which has been at forefront of the AI revolution. “While the size and scale of TIXT/Nvidia relationship is currently unclear…this could potentially turn out to be a longer term profitable relationship,” Goyal says. Telus International’s shares are up 33% this year.

-5.65% Nvidia (NVDA) has seen its buy rating reiterated by BofA Securities ahead of Wednesday’s results but the investment firm also said that the chipmaker’s recent stock price surge may create a near-term pullback. “We reiterate Buy/top pick ahead of NVDA Feb-21 earnings but won’t be surprised to see a notable but brief pullback after the recent parabolic run-up in the stock,” the note said. BofA said, however, that a pullback could be “short-lived” due to updates expected at the upcoming GPU Tech Conference tradeshow, scheduled for March 18 to 21, as well as Nvidia’s “compelling valuation.” “Expectations have been steadily moving up, with some bullish buy-side estimates for NVDA F4Q/1Q report/guided sales at $21.7bn/$23bn or 9%/7% above consensus, leaving less room for upside surprises,” Bofa said. “However, in our view, any potential mismatch versus bullish expectations is likely supply (memory, packaging) rather than demand or competition related.” Nvidia’s “stock

NVIDIA Corp (NASDAQ:NVDA) could be in for a significant pullback following its upcoming earnings report, according to a Bank of America analyst. What Happened: Bank of America’s Vivek Arya, a research analyst, has highlighted the possibility of a substantial decline in Nvidia’s stock value, reported Business Insider. Arya’s analysis suggests that the chipmaker’s stock could face an 11% implied post-earnings move, based on bullish buy-side estimates for Nvidia’s Q4 earnings, which are 9% above consensus. Arya, however, believes that any potential decline would be temporary, driven by supply-side issues rather than shifts in demand and competition. He also expects the stock’s volatility to settle after Nvidia’s GPU Tech Conference in mid-March.

Nvidia (NASDAQ:NVDA) checks point to significant fiscal fourth-quarter and full-year revenue upside potential fueled by strong demand for artificial intelligence compute capacity, according to UBS. The brokerage increased its price target on the chipmaker to $850 from $580 and reiterated a buy rating on the stock in a research note emailed Tuesday. Nvidia is expected to report results for the fourth quarter of its fiscal 2024 period on Feb. 21. UBS sees Nvidia beating data-center revenue estimates by $2.5 billion to $3 billion. UBS estimates data-center revenue of $19.45 billion, implying sequential growth of 34%. The consensus view is for data-center revenue of $16.77 billion. The brokerage also expects total fourth-quarter revenue of $22.95 billion versus the Street’s $20.23 billion view. “Customer discussions confirm Nvidia’s lead times have come in substantially over the past few months, meaning shipment slots are still available in (the second half of 2024),” analysts Timothy

Nvidia Corp. (NASDAQ:NVDA) remains a “top pick” ahead of the release of its fiscal Q4 results on Wednesday, BofA Securities said in a note Thursday. But the firm said that “a notable but brief pullback after the recent parabolic run-up in the stock” wouldn’t be surprising, with options indicating an implied move of about 11% following earnings. BofA also said that stock volatility would likely be temporary as investors look ahead to Nvidia’s GPU Tech Conference on March 18 to 21 that will feature important pipeline, partner and artificial intelligence updates. On AI total addressable market, the firm said it could be taken to the $250 billion to $500 billion range by cloud competition, sovereign AI, enterprise on-premises spending and pricing. BofA maintained Nvidia’s buy rating with a price objective of $800.

Nvidia Corp. (NASDAQ:NVDA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 14.08% Wells Fargo $675 → $840 Maintains Overweight 02/16/2024 15.44% Oppenheimer $650 → $850 Maintains Outperform 02/16/2024 8.65% Wedbush $600 → $800 Maintains Outperform 02/16/2024 62.97% Loop Capital → $1200 Initiates Coverage On → Buy 02/14/2024 15.44% Susquehanna $625 → $850 Maintains Positive 02/13/2024 12.04% Mizuho $625 → $825 Maintains Buy 02/12/2024 5.25% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 02/07/2024 1.86% Morgan Stanley $603 → $750 Maintains Overweight 02/05/2024 8.65% Goldman Sachs $625 → $800 Maintains Buy 01/29/2024 5.25% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 01/23/2024 5.25% Cantor Fitzgerald → $775 Initiates Coverage On → Overweight 01/19/2024 -4.94% Raymond James $600 → $700 Maintains Strong Buy 01/18/2024 7.29% Tigress Financial $560 → $790 Maintains Buy 01/16/2024 0.5% Keybanc $650 → $740 Maintains Overweight 01/03/2024 -44.32% DA

Nvidia reports fourth-quarter fiscal-2024 earnings. This is perhaps the most consequential earnings release for the stock market so far this year, as much of the gains in the S&P 500 over the past year have been powered by artificial-intelligence hype and hope. Shares of Nvidia, the poster child of the AI boom, have already rallied 47% this year after jumping 239% in 2023. Consensus estimates are for Nvidia to earn $4.59 a share on $20.4 billion in revenue for the quarter.

Nvidia Corp. (NASDAQ:NVDA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 18.36% Goldman Sachs $625 → $800 Maintains Buy 01/29/2024 14.66% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 01/23/2024 14.66% Cantor Fitzgerald → $775 Initiates Coverage On → Overweight 01/19/2024 3.57% Raymond James $600 → $700 Maintains Strong Buy 01/18/2024 16.88% Tigress Financial $560 → $790 Maintains Buy 01/16/2024 9.49% Keybanc $650 → $740 Maintains Overweight 01/03/2024 -39.34% DA Davidson → $410 Initiates Coverage On → Neutral 11/22/2023 -3.83% Oppenheimer → $650 Reiterates Outperform → Outperform 11/22/2023 -1.61% Stifel $600 → $665 Maintains Buy 11/22/2023 -7.53% Susquehanna → $625 Reiterates Positive → Positive 11/22/2023 -14.19% UBS $560 → $580 Maintains Buy 11/22/2023 — Edward Jones Downgrades Buy → Hold 11/22/2023 -7.53% Mizuho $590 → $625 Maintains Buy 11/22/2023 -7.53% Benchmark → $625 Reiterates Buy → Buy 11/22/2023 -3.83% BMO Capital

Goldman Sachs raised NVIDIA Corp.’s (NASDAQ:NVDA) 12-month price forecast to $800. The move signals a 21% potential leap from its current levels. It also underscores the bullish approach analysts are taking regarding the company’s pioneering role in the rapidly evolving field of accelerated computing. What Happened: Goldman Sachs analysts Toshiya Hari and Anmol Makkar highlighted “various data points from the broader ecosystem that point to sustained strength in demand for accelerated computing.” A pivotal element of their bullish stance is NVIDIA’s successful foray into AI monetization, particularly its contributions to Microsoft Corp. (NYSE:MSFT)’s Azure and Meta Platforms Inc. (NASDAQ:META) revenue streams. Analysts spotlight the optimistic outlook on AI-related capital investments, with Meta’s capex guidance adjustment from $30-35 billion before $30-37 billion being a case in point. This not only reflects a growing commitment to AI but also boosts NVIDIA’s growth narrative. “We believe Nvidia will remain as the industry gold standard for the foreseeable future given its robust hardware