Shares of chipmaker Nvidia fell sharply earlier this month after the U.S. government announced new restrictions on exporting advanced artificial intelligence chips to China.
Investment bank Itau BBA's analysts believe the new export controls could reduce Nvidia's revenues from China by about 10% in 2025.
However, the analysts say the stock's pullback has likely already priced in most or all of that impact.
NVDA 1M mountain Itau BBA's $600 price target for Nvidia points to more than 40% upside from the current share price.
In response to the plans for new export restrictions, Citi analyst Atif Malik cut his Nvidia price target to $575 from $630.
Persons:
Thiago Alves Kapulskis, Atif Malik, Morgan Stanley's Joseph Moore, —, Samantha Subin, Michael Bloom
Organizations:
Nvidia, U.S, Investment, U.S . Commerce Department, Citi
Locations:
China, Saudi Arabia