surged more than 200% over the past year and one of its most bullish analysts is projecting that the semiconductor giant will extend its rally, pushing its market value to nearly US$5-trillion in the coming year.
Rosenblatt Securities analyst Hans Mosesmann on Tuesday hiked his price target on the chip maker to a Wall Street high of $200, from $140. His raise follows the company’s recent 10-for-one stock split on 10 June.The Santa Clara, California-based company has dominated the market with its highly sought-after products that help power data centres running complex artificial intelligence computing tasks.
“We anticipate this software aspect will significantly increase in the next decade in terms of overall sales mix, with an upward bias to valuation due to sustainability,” Mosesmann wrote in a note to clients. —
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