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☆ Nvidia stock tests record highs as Wall Street defends chipmaker's valuation amid 'AI arms race'
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Nvidia stock surged over 3% to near-record highs on Monday as excitement builds for its Blackwell GPU. Bank of America said cloud hyperscalers are in an "AI arms race," which should be a positive for Nvidia. AdvertisementNvidia stock jumped more than 3% on Monday to near-record highs as investor excitement around the chipmaker's upcoming Blackwell GPU product cycle grows. Monday's gain came amid a wave of Wall Street research reports on Nvidia, along with pricing details for Nvidia's next-generation GPU chip. AdvertisementThe initial list prices for Nvidia's Blackwell GPU chip were around $500,000, which Wells Fargo called an "incremental positive" in a note on Monday.

Persons: Blackwell, —, Nvidia's, Wells, Aaron Rakers, Goldman Sachs Organizations: Nvidia, Blackwell, Bank of America, Service, Citi, Monday's, Nvidia's Blackwell, Microsoft, hyperscalers, Investors

☆ Citi is so bullish on this biotech stock it gives it 800% potential upside
▼ + stars: | 2023-11-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Citi is so bullish on one biotech firm that it has given its shares a target price that represents around 800% upside. In a Nov. 22 note, Citi gave the stock a buy rating and a price target of $90, representing potential upside of around 818% from Tuesday's price. However, the bank cautioned that the stock is high risk, given the "typical volatility" of biotech stocks and uncertainty associated with clinical trials. According to FactSet, analysts covering the stock give it average price target upside of 385% and a buy rating of 88%. On FactSet, the highest estimate came from Oppenheimer, which gives it potential upside of over 600%.

Persons: —, Oppenheimer, — CNBC's Michael Bloom Organizations: Citi, Citi isn't, BMO Capital Markets, BMO, P Biotech ETF, Biotech Locations: U.S

☆ Citi cuts Nvidia price target on U.S. chip export restrictions to China
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Citi maintained its buy rating on Nvidia but lowered its price target to $575 from $630. The bank's lowered outlook comes after the U.S. Department of Commerce announced new export restrictions Tuesday that would curb the sale of more advanced artificial intelligence chips to China. The move will restrict the export of Nvidia's A800 and H800 chips as the federal government attempts to further tighten last year's restrictions on AI chip exports. Malik lowered his full-year 2025 earnings per share by 0.3% to reflect lowered China exposure with Nvidia's GeForce RTX 4090 graphics cards. Morgan Stanley analyst Joseph Moore lowered his target by $30 to $600 on the back of the new export controls.

Persons: Atif Malik, Malik, Morgan Stanley, Joseph Moore, Moore, — CNBC's Michael Bloom Organizations: Citi, Nvidia, U.S . Department of Commerce, NVIDIA, federal, United Arab Locations: China, Saudi Arabia, United Arab Emirates, Vietnam

☆ Citigroup says buy the dip in tech stocks
▼ + stars: | 2023-10-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Citi isn't shying away from tech stocks. "Last quarter, we took profits on our US and Global Tech Overweights, but suggested buying dips," Citi strategists wrote in a Friday note. "We have now seen a meaningful pullback and thus upgrade global Tech once again." Tech stocks have been under pressure recently as Treasury yields rise to multiyear highs, making growth-oriented tech names less attractive. The S & P 500 tech sector is also down more than 5% in the past month.

Persons: CNBC's Michael Bloom Organizations: Citi, Global Tech, Tech, Nasdaq Locations: Europe, Japan, Australia, United Kingdom

☆ Big changes are coming to the Citi AAdvantage Executive card, including a 100,000-mile bonus and new statement credits — but it's not all good news
▼ + stars: | 2023-07-10 | by ( Jasmin Baron | Sarah Silbert | Read More | ) www.businessinsider.com time to read: +16 min

The downside is that the annual fee will increase, and you'll have to pay to add authorized users. Cardholders and up to 10 authorized users (currently free to add) receive American Airlines Admirals Club access for themselves and up to two guests (or immediate family) when they fly American Airlines or its partners. For a $450 annual fee, that's a fabulous deal, considering Admirals Club membership currently starts at $650 (which will increase to $850 shortly). Full Admirals Club membership gets you (and authorized users) access to American Airlines lounges Check mark icon A check mark. But this, along with an improved earning rate on American Airlines purchases, is a huge upgrade for cardholders.

Persons: Read, We're, it's, That's, cardmembers, cardholders, Citi's, What's, you'll Organizations: Citi AAdvantage, Admirals Club, American Airlines, Citi, Mastercard, Service, American, Chase, Chevron, Target, Walmart, Capital, Airlines, AA, Business, Admirals Clubs, American Express, Avis Locations: Wall, Silicon, Miami, Washington ,

The S & P 500 's recent rally has many investors convinced the bear market is drawing to a close, but Citi's Scott Chronert isn't convinced. Chronert, U.S. equity strategist at Citi, isn't buying the rally. He is maintaining his full-year S & P 500 target of 4,000 as he forecasts a pullback in the second half of 2023. According to CNBC Pro's Market Strategist Survey , Barclays, Morgan Stanley and UBS are forecasting the broad market index to fall below 4,000 at year-end. His base case for the S & P 500 forecasts a mid-year 2024 target of 4,400.

Persons: Citi's Scott Chronert isn't, Morgan Stanley, Chronert, — CNBC's Michael Bloom Organizations: Citi, CNBC Pro's, Survey, Barclays, UBS Locations: U.S

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