{"id":87485,"date":"2023-11-22T09:54:37","date_gmt":"2023-11-22T14:54:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nvidia-is-rising-the-stock-is-a-must-have-even-with-china-concerns\/"},"modified":"2023-11-22T09:54:38","modified_gmt":"2023-11-22T14:54:38","slug":"nvidia-is-rising-the-stock-is-a-must-have-even-with-china-concerns","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87485","title":{"rendered":"Nvidia Is Rising. The Stock Is a ‘Must-Have’ Even With China Concerns."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Nvidia
\n smashed expectations with its third-quarter earnings and guidance, and analysts said the leading semiconductor maker for artificial intelligence still has room to grow.<\/p>\n

That wasn\u2019t enough to stop
\n Nvidia
\n (ticker: NVDA) shares from slipping just after it reported, but shares were rising again early Wednesday.
\n Nvidia,<\/span>
\n having gained more than 240% this year, was up 0.5% to $502 in premarket trading.\u00a0<\/p>\n

\n

Industry analysts praised the results even if stock traders were more wary to pile in to the AI hype following the huge recent gains for
\n Nvidia.<\/span>
\n Another concern is that restrictions on chip exports to China, one of Nvidia\u2019s biggest markets, will get worse before they get better. The U.S. government is trying to prevent the highest-spec units from getting to China if they might be used for military purposes.<\/p>\n

\u201cWith much optimism built into the stock, almost nothing would have stopped a profit-taking pullback,\u201d said Benchmark analysts, led by Cody Acree, who give the shares a Buy rating with a $625 price target. \u201cBut Nvidia is well.\u201d<\/p>\n

Rival semiconductor maker
\n Intel
\n (INTC) was up 0.2% Wednesday.
\n Arm
\n (ARM) was up 0.7%, and
\n Advanced Micro Devices
\n (AMD) rose 1%. Futures for the tech-heavy Nasdaq-100 index were up 0.2%.<\/p>\n

After Nvidia\u2019s Tuesday earnings report, analysts at KeyBanc led by John Vinh kept their Overweight rating on
\n Nvidia,<\/span>
\n with a price target of $650. \u201cWe\u2019re encouraged by these strong results and view Nvidia as best positioned to monetize Gen AI,\u201d they wrote in a research note.<\/p>\n

\n Piper Sandler
\n strategists also maintained their Overweight rating on the stock. Their price target is $620. \u201cResults and guidance for the October and January quarters were well above Street expectations,\u201d said Harsh V. Kumar and Robert Aguanno in a note. \u201cImportantly, management called out implications from lost sales due to China restrictions are expected to be minimal.\u201d<\/p>\n

Itau BBA raised its price target after the earnings to $640 from $600. Nvidia \u201cis a must-have stock from global portfolios, particularly those focused on tech,\u201d said analysts led by Thiago Alves Kapulskis.<\/p>\n

\u201cEven without any revenue from the second largest country in the world (in terms of both GDP and AI demand), Nvidia was still able to issue very strong guidance. This is strong evidence that demand is resilient,\u201d the Itau analysts said.<\/p>\n

Others were also bullish about Nvidia\u2019s prospects. CFRA Research\u2019s Angelo Zino kept his buy rating with a $600 target. <\/p>\n

\u201cIt\u2019s important to remember that chip restrictions will affect Nvidia as well as every other player in the space,\u201d said GraniteShares CEO Will Rhind. \u201cThis is a company that we would be very cautious about betting against.\u201d<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nvidia smashed expectations with its third-quarter earnings and guidance, and analysts said the leading semiconductor maker for artificial intelligence still has room to grow. That wasn\u2019t enough to stop Nvidia (ticker: NVDA) shares from slipping just after it reported, but shares were rising again early Wednesday. Nvidia, having gained more than 240% this year, was […]<\/p>\n","protected":false},"author":1,"featured_media":66713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-87485","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nNvidia Is Rising. 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