NVIDIA Corp (NVDA)

[Dallas-Cowboys]

“Nvidia Stock Has Been Trading Sideways. What Could Spark Another Rally.
N?vidia has lost some of its momentum in the last couple of months. The next generation of its graphics-processing units could be the key to another leg upward and it might come sooner than investors think, according to analysts at Citi. 
Nvidia (ticker: NVDA) stock has almost tripled in value this year but the semiconductor maker’s shares have largely moved sideways in the last couple of months. Investors look to have priced in the gains from Nvidia’s H100 GPU becoming the most in-demand chip for artificial-intelligence applications. 
Further gains could be unlocked if Nvidia releases its next-generation B100, or Blackwell, GPU in the first half of next year, according to Citi analyst Atif Malik. Nvidia’s normal AI chip production schedule would call for a release in the second half of 2024 but the company might accelerate its timeline to meet booming demand and stave off competition, Malik said. 
“[The] B100 GPU could be an even bigger AI game changer than H100 at its launch from a technology standpoint and set for a rapid adoption which subsequently will drive up Nvidia’s ASPs [average selling prices], sales, and margins,” Malik wrote. 
Malik noted the B100 could represent a significant technological advance if Nvidia uses Taiwan Semiconductor Manufacturing’s (TSM) 3-nanometer manufacturing process, as well as adopting ‘chiplet’ stacking technology which combines multiple small chips. 
Malik has a Buy rating and $630 target price on Nvidia shares, based on a price-to-earnings multiple of 35 times the company’s forecast 2025 earnings. Nvidia shares were up 1.3% at $440.43 in premarket trading on Monday.”