Nvidia shares just closed at a record-high — and there's more momentum ahead, according to Melius Research.
Well not after F2Q24 revisions, and especially not when you adjust for growth," Reitzes said.
According to the analyst, Nvidia is currently trading at a cheaper valuation than shares of Alphabet, Microsoft and Apple, based on enterprise value-to-sales ratios.
Reitzes has a buy rating on Nvidia shares.
Shares inched down 0.4% Wednesday premarket, after rising more than 4% the prior trading session to a record close.
Persons:
Ben Reitzes, Reitzes, — CNBC's Michael Bloom
Organizations:
Nvidia, Research, Microsoft, Apple