{"id":48376,"date":"2023-08-14T19:48:25","date_gmt":"2023-08-14T23:48:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nvidia-is-still-a-winner-why-the-stock-is-a-buy-now-and-how-far-it-could-rally\/"},"modified":"2023-08-14T19:48:27","modified_gmt":"2023-08-14T23:48:27","slug":"nvidia-is-still-a-winner-why-the-stock-is-a-buy-now-and-how-far-it-could-rally","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48376","title":{"rendered":"Nvidia Is Still a Winner. Why the Stock Is a Buy Now\u2014and How Far It Could Rally."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000719222\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Nvidia<br \/>\n      stock had a roaring start to the year, but has since cooled off. Now may be the time to buy, with the shares set to move on the back of quarterly earnings next week and eyed by<br \/>\n        Morgan Stanley<br \/>\n       as a winner.<\/p>\n<p>Chip maker<br \/>\n        Nvidia<br \/>\n       (ticker: NVDA) has been a key beneficiary of this year\u2019s frenzy over artificial intelligence, with the stock\u2019s near-190% rise since January buoying the<br \/>\n        S&amp;P 500<br \/>\n       and<br \/>\n        Nasdaq<span>.<\/span><br \/>\n       But recent price action has been sluggish: while the stock was up 3.9% on Monday, the shares have shed more than 10% since peaking in late July, which analysts led by Joseph Moore at Morgan Stanley say is linked to macro concerns and supply anxieties.<\/p>\n<div class=\"paywall\">\n<p>The dip is a great opportunity to buy, according to Moore\u2019s team, who named Nvidia their top pick heading into earnings. Morgan Stanley rates Nvidia at Buy with a $500 price target, implying gains of 23.5% from Monday\u2019s opening price below $405. It\u2019s not a counter-consensus view on Wall Street, with Nvidia stock garnering an average rating of Buy among analysts surveyed by FactSet, with an average price target above $515.<\/p>\n<p>Nvidia is set to report earnings after the bell on Aug. 23, and Moore\u2019s team at Morgan Stanley expects both blowout results and a strong outlook.<\/p>\n<p>\u201cWe think the recent selloff is a good entry point, as despite supply constraints, we still expect a meaningful beat and raise quarter\u2014and, more importantly, strong visibility over the next 3-4 quarters,\u201d the team at Morgan Stanley wrote. \u201cNvidia remains our Top Pick, with a backdrop of the massive shift in spending towards AI, and a fairly exceptional supply demand imbalance that should persist for the next several quarters.\u201d<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nvidia-stock-earnings-rally-b8a93538?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia stock had a roaring start to the year, but has since cooled off. Now may be the time to buy, with the shares set to move on the back of quarterly earnings next week and eyed by Morgan Stanley as a winner. Chip maker Nvidia (ticker: NVDA) has been a key beneficiary of this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-48376","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia Is Still a Winner. Why the Stock Is a Buy Now\u2014and How Far It Could Rally. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Nvidia stock had a roaring start to the year, but has since cooled off. 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