Nvidia Stock Surges After Stellar Earnings. What Wall Street Is Saying.

📆 8/24/2023 10:09 AM
📰 MarketWatch

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Analysts have been upgrading price targets for the chip maker's shares following its impressive report.

Nvidia shares were surging as analysts welcomed results showing the artificial-intelligence boom is still powering its growth.

read this “With visibility extending into ’24, [Nvidia] management has qualified additional suppliers…and expects to increase supply each quarter through next year to meet demand,” KeyBanc analyst John Vinh wrote in a research note. UBS analysts noted that Nvidia indicated it could reallocate Chinese shipments of its A800 and H800 chips—which have intentionally limited capacity to meet U.S. export restrictions—if required. They kept a Buy rating on the stock and raised their target price to $560 from $540.

However, Nvidia’s outsize gains suggest it looks set to remain the market’s favorite bet on AI technology for now.

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