Nvidia’s Data Centers and Gaming Strengths Keeping Analysts Upbeat on Stocks

  • Wells Fargo analyst Aaron Rakers reiterates Overweight on Nvidia Corp (NASDAQ: NVDA) with a price target of $250.

  • Given the recent strength in NVDA shares, he recommends waiting to see NVDA’s upcoming F3Q23 results.

  • Rakers’ reevaluation reflects the platform’s deeper growth thesis on NVDA with investor focus more on Data Center and Gaming.

  • Investors should focus on Datacenter with recent positive demand data points. NVDA’s H100 uplink and price gains are the main focus.

  • NVDA’s view on offsetting the ~$400 million impact from US export controls on A100 shipments to China and confidence in the recently introduced A800 shipping capacity will also be key. main topic of discussion.

  • Rakers hopes the F3Q23 results or hot F4Q23 instructions will give investor confidence in the Game’s bottom should NVDA reiterate sold demand.

  • An exceptional multiple for NVIDIA is warranted based on what he believes is a strong competitive positioning over the years for data center growth driven by cloud and AI, gaming, autonomous vehicle applications. next-generation operating system and an expanding ecosystem of products and applications (e.g. Omniverse)

  • Price action: NVDA stock was trading 1.09% higher at $165.06 as of Monday’s final test.

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