Thursday, May 09, 2024 1:01:53 PM
In a recent development, Baird, a prominent financial services firm, has reinforced its positive outlook on NVIDIA Corporation (NASDAQ: NVDA), adjusting its price target upward to $1,050 from the previous $750.
While maintaining an Outperform rating on the stock, the firm cited robust demand for NVIDIA’s artificial intelligence (AI) solutions as a primary driver behind the adjustment.
Baird’s analysis and catalysts
Baird’s research findings underscored the continued strong demand for NVIDIA’s AI solutions, particularly emphasizing accelerating enterprise customer momentum. The forthcoming Blackwell architecture was highlighted as a significant catalyst for a substantial performance boost in NVIDIA’s offerings.
Additionally, the firm anticipates a rise in average selling prices (ASPs) and noted Taiwan Semiconductor Manufacturing Company’s (TSMC) efforts to double its CoWoS (Chip on Wafer on Substrate) capacity, which is expected to enhance supply in the latter half of 2024.
Baird’s analysis indicated that NVIDIA’s GH200 performance surpasses the combined x86 processor and H100, increasing engagements with hyper scalers and high-performance computing (HPC) original design manufacturers (ODMs). The enduring dominance of NVIDIA’s CUDA ecosystem was identified as a significant competitive advantage for the company.
Recent NVDA News
- Nvidia Overtakes Microsoft To Become World’s Most Valuable Company • IH Market News • 06/19/2024 09:32:08 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/18/2024 09:16:15 PM
- Hewlett Packard Enterprise and NVIDIA Announce ‘NVIDIA AI Computing by HPE’ to Accelerate Generative AI Industrial Revolution • Business Wire • 06/18/2024 04:30:00 PM
- Fisker Files for Bankruptcy, Chegg Stocks Rise on 23% Workforce Reduction, and More • IH Market News • 06/18/2024 11:02:13 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 09:06:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:47 PM
- NVIDIA Announces Omniverse Microservices to Supercharge Physical AI • GlobeNewswire Inc. • 06/17/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 08:51:55 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 08:29:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 09:52:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/13/2024 08:39:28 PM
- NVIDIA Stockholder Meeting Set for June 26; Individuals Can Participate Online • GlobeNewswire Inc. • 06/12/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 08:55:57 PM
- Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News • IH Market News • 06/10/2024 11:29:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:15:17 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:12:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/07/2024 08:19:34 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/07/2024 08:02:43 PM
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- Nvidia Becomes 2nd Most Valuable Company in the USA, ASML Takes 2nd Spot in Europe, and More News • IH Market News • 06/06/2024 11:34:59 AM
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- Nvidia’s Market Value Surges, Overtaking Apple • IH Market News • 06/06/2024 09:17:39 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:02:53 PM
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