- Mizuho analyst Vijay Rakesh reiterated a Buy on Nvidia Corp (NASDAQ:NVDA) with a $205 price target.
- Recent events have significantly impacted the global AI technology roadmap, from elevated geopolitical tensions resulting from technology export restrictions to essential industry product updates.
- Rakesh writes NVDA reigns supreme, with its DGX H100 (Hopper) potentially continuing to dominate the market.
- He expected competition abounds as AI startups seek to disrupt the industry, including Cerebras, Tesla Inc (NASDAQ:TSLA), and Sambanova, among others.
- Rakesh estimates U.S. Department of Commerce restrictions on AI chips could start to close the door for even domestic China suppliers to be given technology, support, and supply chain restrictions.
- Rakesh continues to see NVDA as the best AI and ML play, pushing the tip of the spear in AI training performance.
- The valuations are attractive, reflecting macro PC and gaming softness and significant US-China restrictions impact, offsetting tailwinds from recent Meta Platforms Inc (NASDAQ:META) capex ramps for C23E in AI.
- Price Action: NVDA shares traded lower by 1.74% at $135.93 on the last check Monday.
- Photo via Wikimedia Commons
Asia Markets Close Higher, Europe Rises, And Crude Oil Gains – Global Markets Today While US Was Sleeping
On Wednesday, November 29th, U.S. stock markets closed mixed amid easing recession worries and uncertainty over the Fed's policy duration, with investors awaiting the PCE inflation report.
In economic data, U.S. Q3 economic growth outperformed at 5.2%, surpassing expectations, while the October trade deficit widened to $89.8 billion from $86.8 billion in the prior month.
