Nvidia (NVDA) : The King of GPU & DPU šā
Analysts at Bank of America continue to support NVIDIA and remain bullish on the chip makerās stock. The bank states that NVIDIAās continued transformation from a legacy computer chip maker to an industry leader for the next generation of technology trends is widely underappreciated by the markets. The analysts praised NVIDIAās balance sheet and recent quarterly earnings, and believe that the softer guidance for the rest of the year is a conservaitve outlook from the company. Bank of America reiterated its Buy rating for the stock and a $375 price.
NASDAQ:NVDA saw a nice rally into the Memorial Day long weekend, following a steep sell-off after its first-quarter earnings report. Despite a near 10% sell off after weaker than expected guidance for the rest of 2022, NVIDIA still managed to gain 15.67% during the past week of trading. Much of NVIDIAās strength was on the back of three consecutive bullish sessions that quickly made investors forget about the previous five months of pain. The markets are still down for the year, but with inflation seemingly being reined in by the Fedās interest rate hikes, investors are cautiously optimistic that stocks have finally found a bottom. As of Monday evening, stock futures for all three major indices were in the green once again.
Write your comments to me if you know what DPU stands for ? haha
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
