Analysts are adjusting stock price target for Nvidia Corp NVDA ahead of its earnings, with the AI market showing strong signs of adopting Nvidia as the standard for the future. Despite minor fluctuations that saw the company's stock underperforming the market on certain days, financial advisors and wealth management firms continue to increase their stake in Nvidia, viewing it as a prospective investment. Though some, including George Soros' ex-employee, DruckenMiller, have sold off a large stake citing a potentially overhyped AI market in the short-term, many see this tech giant rallying with a possible growth of over 19%. Recently, Nvidia joined a $1.05B funding for Wayve, pushing forward with automated driving. The company's shares are still up significantly over the past year, in spite of corrections and temporary plunges.
Many institutions like Cary Street Partners, Triumph Capital, and Berry Wealth Group increased their holdings in Nvidia, whereas a few like Victory Capital Management and Mitsubishi UFJ Securities reduced theirs. Given these developments, the general market sentiment remains bullish towards Nvidia. Earnings reports and financial results from Nvidia have been strong, with Q4 and year-end results breaking records. The company's future outlook is optimistic with the question being asked about where Nvidia's stock will be in 5 years considering its upward trajectory.
Nvidia Corp NVDA News Analytics from Tue, 21 Nov 2023 08:00:00 GMT to Fri, 10 May 2024 14:21:00 GMT - Rating 7 - Innovation 9 - Information 8 - Rumor -6
