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24x7Report > Blog > Finance > Nvidia Stock Gets Price-Target Hike Before GTC 2024
Finance

Nvidia Stock Gets Price-Target Hike Before GTC 2024

Last updated: 2024/03/13 at 8:40 PM
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Nvidia Stock Gets Price-Target Hike Before GTC 2024
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A Wall Avenue agency on Wednesday raised its worth targets on Nvidia (NVDA) inventory and Tremendous Micro Laptop (SMCI) forward of Nvidia’s GTC convention for AI builders subsequent week.

Contents
Tremendous Micro ‘Effectively Positioned’ In AI ServersNvidia Inventory Is On 5 IBD Lists




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BofA Securities analyst Vivek Arya mentioned information from the Nvidia GTC present, which he referred to as “AI Woodstock,” may very well be a catalyst for Nvidia inventory. He reiterated his purchase score on the graphics-chip maker and raised his worth goal to 1,100 from 925.

On the inventory market at the moment, Nvidia inventory fell 1.1% to shut at 908.88. Nevertheless, yr up to now, Nvidia remains to be up practically 84%.

Nvidia Chief Government Jensen Huang will kick off the four-day GTC convention and expo late Monday with a keynote presentation. GTC is going down in San Jose, Calif.

In a consumer observe, Arya mentioned he expects Nvidia to showcase its in depth product pipeline throughout AI accelerators, Ethernet switches, information middle {hardware}, PC gear, software program and companies.

Nvidia is also prone to tout the chance to re-architect $1 trillion to $2 trillion of world computing infrastructure with accelerators. That would end in an annual market alternative of $250 billion to $500 billion over the following three to 5 years, Arya mentioned.

Tremendous Micro ‘Effectively Positioned’ In AI Servers

Elsewhere at BofA Securities, analyst Ruplu Bhattacharya hiked his worth goal on information middle pc maker Tremendous Micro Laptop to 1,280 from 1,040. He stored his purchase score on Tremendous Micro inventory.

See also  Samsung Reports a 10-fold Increase in Profit as AI Drives Rebound in Memory Chip Markets

On Wednesday, Tremendous Micro inventory superior 2.2% to shut at 1,188.07.

Tremendous Micro “is effectively positioned to profit from a rising AI server market,” Bhattacharya mentioned in a consumer observe. “The corporate is placing in capability to help sturdy demand and income progress.”

He expects trade gross sales of synthetic intelligence servers to develop from about $39 billion in 2023 to about $200 billion in 2027.

Nvidia Inventory Is On 5 IBD Lists

Tremendous Micro will profit from its shut relationships with AI chipmakers together with Nvidia, AMD (AMD) and Intel (INTC), he mentioned.

Nvidia inventory is on 5 IBD inventory lists: IBD 50, Big Cap 20, Sector Leaders, Leaderboard and Tech Leaders.

Tremendous Micro inventory is on two IBD lists: Large Cap 20 and Tech Leaders.

Observe Patrick Seitz on X, previously Twitter, at @IBD_PSeitz for extra tales on shopper expertise, software program and semiconductor shares.

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See Shares On The Listing Of Leaders Close to A Purchase Level

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TAGGED: GTC, hike, Nvidia, PriceTarget, stock

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