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☆ Nvidia's stock will continue working higher, says Wells Fargo's Aaron Rakers
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's stock will continue working higher, says Wells Fargo's Aaron RakersAaron Rakers, Wells Fargo managing director and technology analyst, join 'Power Lunch' to discuss Nvidia ahead of earnings.

Persons: Wells Fargo's Aaron Rakers Aaron Rakers, Wells Organizations: Nvidia Locations: Wells Fargo

☆ Nvidia earnings are on deck. Here's what Wall Street is watching for
▼ + stars: | 2024-11-20 | by ( Pia Singh | In | ) www.cnbc.com time to read: +6 min

Expectations are high for Nvidia's earnings. Momentum behind Nvidia's Blackwell ramp Wall Street majors view Nvidia's Blackwell platform — which should be generally available in the January quarter — as a multibillion-dollar revenue opportunity for the chipmaker. Nvidia had said in August that it expected about "several billion" in Blackwell sales during the January quarter. According to Piper Sandler analyst Harsh Kumar, Nvidia could deliver between $5 billion and $8 billion of Blackwell revenue in the January quarter. Analysts are also largely undeterred by recent concerns about a recent report from The Information that Nvidia's Blackwell NVL-72 server racks are experiencing issues with overheating.

Persons: Blackwell, Nvidia's, Piper Sandler, Harsh Kumar, Kumar, Goldman Sachs, Goldman, Toshiya Hari, Nvidia's Blackwell NVL, Vivek Arya, Hopper, Atif Malik, Hari, Nvidia's Hopper, Wells Fargo's Aaron Rakers, Ruben Roy, Roy Organizations: Nvidia, Blackwell, Citi, Nvidia's Blackwell, Bank of America, HSBC, Hopper, Data, Elon

☆ University of Alabama students charged after pledge was shoved and stepped on during alleged hazing incidents
▼ + stars: | 2024-10-18 | by ( Minyvonne Burke | Danielle Cook | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

Several University of Alabama students were charged in alleged fraternity hazing incidents after a pledge said he was shoved, stepped on, and had things thrown at him. Court documents filed Wednesday state that videos from the TV room and band room captured the alleged hazing. Molineaux and another fraternity member are alleged to have "shoved and struck one of the pledges," the filing says. The University of Alabama said hazing is strictly prohibited and an investigation led to the campus police department serving warrants against several members. "Hazing violates University policy, the Code of Student Conduct, and the law, and it is a matter that the University takes seriously," the school said in a statement.

Persons: Christopher Theodore Molineaux, Grant Henry Rakers, Joshua Donald Ferrito, Charles William Grey, Alabama's Bryant, Denny, Wesley Hitt, calisthenics, Rakers, Grey, Stefan Maksimovich, Pi Kappa Phi Organizations: University, Alabama, Pi Kappa Phi, Alabama's, University of Alabama, Conduct, Pi Kappa Locations: Tuscaloosa, Ala

☆ 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

☆ Micron set to benefit as memory's role in AI is not fully appreciated, says Wells Fargo's Rakers
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicron set to benefit as memory's role in AI is not fully appreciated, says Wells Fargo's RakersAaron Rakers, Wells Fargo analyst, joins CNBC to discuss his buy rating on Micron, where the company stands among the big beneficiaries of AI, and more.

Persons: Wells Fargo's Rakers Aaron Rakers, Wells Organizations: Micron, CNBC Locations: Wells Fargo

☆ Wall Street Apple analysts underwhelmed by new iPhone's AI features
▼ + stars: | 2024-09-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Apple 's high stakes September launch event left some Wall Street analysts feeling unsettled. The largest company in the U.S. announced a host of new products Monday at its California headquarters, including a new Apple Watch, AirPods and the highly anticipated iPhone 16 that harnesses AI tools called Apple Intelligence. The delayed AI launch also creates uncertainty for sales volumes over the next two quarters, Long added. UBS analyst David Vogt viewed the event as "anticlimactic," adding that Apple offered no "killer" AI application. Elsewhere, Piper Sandler's Matt Farrell reiterated his neutral rating and $225 price target, noting that a slow rollout of Apple Intelligence could actually hamper enthusiasm for the features.

Persons: Tim Long, Apple, Long, Bernstein's Toni Sacconaghi, David Vogt, Wells, Aaron Rakers, Samik Chatterjee, MoffettNathanson's Craig Moffett, Tim Cook, Piper, Matt Farrell, Brandon Nispel Organizations: Apple, U.S, Apple Watch, Apple Intelligence, Barclays, UBS, Beta Locations: California, China, Europe

Apple got a price target increase from Wells Fargo. As catalysts, Boss cited broad-based demand for Abercrombie, growth upside for Hollister and a ramp-up in Abercrombie's international brand momentum. Analyst James Faucette also lifted his price target to $175 from $154. Fidelity National Information Services stock closed at $75.25 on Friday afternoon, slightly below analyst James Faucette's $79 price target. — Lisa Kailai Han 5:51 a.m.: Wells Fargo raises Apple price target Wells Fargo is getting more bullish on Apple ahead of earnings.

Persons: Apple, Guggenheim, Fitch, Matthew Boss, Abercrombie, Boss, — Lisa Kailai Han, Morgan Stanley, James Faucette, Clover, Faucette, Raymond James, Estee Lauder, Olivia Tong, Tong, James Faucette's, Piper Sandler, Harsh Kumar, Kumar, NVDA, CrowdStrike, John DiFucci, DiFucci, Wells, Aaron Rakers, Fred Imbert Organizations: CNBC, Tech, Apple, JPMorgan, Abercrombie, Abercrombie & Fitch, Fitch, Fidelity National Information Services, Blackwell, Nvidia, Guggenheim, Apple Intelligence Locations: Wells Fargo, CrowdStrike, Hollister, Fiserv, U.S, China, CSPs

Bank of America, meanwhile, raised its price target on Costco after the company announced an increase to its membership fees. Analyst James Heaney assumed coverage of Roblox with a hold rating — down from a buy — and $42 price target, which implies a 5.9% potential increase. Rakers' new target price suggests the stock — which is up 24.8% this year — could gain another 11.4%. Analyst Robert Ohmes upped his price target by $88 to $962 on Costco, suggesting shares could gain 8.8%. Its price target of $385 implies upside of 26.2% from Wednesday's close.

Persons: Jefferies, Roblox, downgrades, James Heaney, Heaney, RBLX, — Pia Singh, Wells, Aaron Rakers, Rakers, Wamsi Mohan, Mohan, There's, Robert Ohmes, Ohmes, Fred Imbert Organizations: CNBC, Spotify Technology, Bank of America, Costco, Silo AI, Silo, AMD, Apple, of America, Apple's, Conference, U.S, Apple Vision, America, Jefferies, Spotify Locations: Wells Fargo, Europe, North America, Nod.ai, U.S, China, India, Canada, Wednesday's

☆ This AI play is about to issue an upside preannouncement, according to a Wells Fargo analysis
▼ + stars: | 2024-07-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

That leaves Wells Fargo optimistic about a possible update from the company late next week, particularly given improved sentiment and valuation behind the stock. But under the most optimistic, upside scenario, Wells targets the stock at $1,200, suggesting 34% upside. This year, Super Micro has more than tripled, climbing 215%, as analysts have touted the company as a back-door play on artificial intelligence. Wells Fargo cites Nvidia's Blackwell product cycle, which includes GB200 Grace-Blackwell Superchips in late 2024, saying its customer base is significantly more diverse compared with Nvidia's Hopper GPU architecture. "We are positive on SuperMicro's ability to continue to be a meaningful player in the ongoing AI server investment cycle," Rakers said.

Persons: Wells Fargo, Aaron Rakers, Wells, Rakers, FactSet, Nvidia's Blackwell, Grace, Blackwell Superchips Organizations: Super

☆ Wall Street analysts say this slide in Micron is a buying opportunity for AI play
▼ + stars: | 2024-06-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Investors should consider using the pullback in Micron Technology to snatch up shares, according to several Wall Street analysts. His $175 price target implies upside of more than 22% from Wednesday's close. Goldman Sachs analyst Toshiya Hari also viewed the drop as a buying opportunity, citing expectations for growth in AI compute and high-bandwidth memory market share gains. Hari has a price target of $158, signaling 11% upside over the next 12 months. MU 1D mountain Micron shares fall on in-line guidance Wells Fargo's Aaron Rakers reiterated his overweight rating and $190 price target, implying more than 33% upside.

Persons: Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Harlan Sur, Bernstein, Mark Li, Timothy Arcuri, Wells Fargo's Aaron Rakers, Vivek Arya Organizations: Micron Technology, MU, Micron, UBS, Bank of Locations: Wednesday's, CY25, ramping HBM

☆ 'AI demand train running at full speed': Here's what Wall Street expects from Nvidia's 1st-quarter earnings
▼ + stars: | 2024-05-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Wall Street expects a continued increase in Nvidia's AI chip sales ahead of its next-gen Blackwell chip release. Here's what Wall Street expects from Nvidia's upcoming earnings report. Deutsche Bank: "AI leadership to continue"Deutsche Bank said it fully expects Nvidia to deliver "healthy multi-billion dollar beats/raises on still healthy demand for AI compute." However, the bank sees much of that strength already priced into the stock, leading the firm to believe that Nvidia stock is "fully valued." Bloomberg Intelligence: "Nvidia has more levers to attack the market"Bloomberg Intelligence analyst Oscar Hernandez Tejada said in a recent note he fully expects Nvidia to report "a solid beat and raise" on Wednesday, arguing that "Nvidia's AI demand train running at full speed."

Persons: —, Wells, Aaron Rakers, Rakers, Taiwan Semiconductor bode, Vivek Arya, Blackwell, Arya, NVDAs, Oscar Hernandez Tejada, Tejada Organizations: Nvidia, Service, ChatGPT, Nvidia's, Blackwell, GPU, Data, Super Micro Computer, Taiwan Semiconductor, Bank of America, Deutsche Bank, Bloomberg Intelligence, Bloomberg Locations: Wells Fargo, Wells, China

Deutsche Bank maintained a hold rating on Nvidia ahead of earnings next week, while Wells Fargo raised its price target. The firm downgraded shares to neutral from buy while lowering its price target to $35 from $55. He has a $850 price target on shares, indicating shares pulling back nearly 6% from Monday's close. The analyst raised his price target on the stock to $1,150 from $974, implying upside of more than 27%. He also raised his price target to $78 from $68, implying upside of 19% from Monday's close.

Persons: Wells Fargo, Roth, Roblox, Eric Handler, Handler, — Hakyung Kim, Tesla's, Elon Musk's, Tesla, Dan Levy, Levy, Hakyung Kim, Jefferies, Boston Beer, Samuel Adams, seltzer, Kaumil, Boston Beers, Seltzer, Gajrawala, Ross Seymore, NVDAs, Seymour, Wells Fargo's Aaron Rakers, Rahul Krotthapalli, Krotthapalli, Fred Imbert Organizations: CNBC, Nvidia, Deutsche Bank, JPMorgan, Roth Capital Partners, Barclays, Jefferies, Boston Beer, Boston, Deutsche, Fitness Locations: Monday's, Boston

☆ Are iPhone sales growing or shrinking in China? That depends on which data points you look at, says an analyst.
▼ + stars: | 2024-05-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Tim Cook said iPhone sales grew in China, despite external research showing a decline. China accounted for 18% of Apple's sales, making it a critical market for the tech giant. However, over the last quarter, independent analysts have reported a slump in overall iPhone sales in China. iPhone sales in China are a closely watched metric because greater China accounted for 18% of Apple's sales across products in the first quarter, according to the earnings results. Related storiesCook's limited remarks on China's iPhone sales raised questions on Friday's call from analysts who compared Apple's data with independent reports.

Persons: Tim Cook, —, Cook, Max, Wells, Aaron Rakers, Will Wong, Wong Organizations: Apple, Service, Counterpoint Research, International Data Corporation, IDC, Bloomberg Locations: China, Hong Kong, Taiwan

☆ Apple iPhone weakness in China is overdone, says Wells Fargo analyst
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple iPhone weakness in China is overdone, says Wells Fargo analystAaron Rakers, Wells Fargo Securities managing director, joins 'Fast Money' to talk the bull case for Apple, iPhones and AI, and what's ahead for the tech company.

Persons: Wells, Aaron Rakers Organizations: Wells Fargo Securities, Apple Locations: China, Wells Fargo

☆ Apple is about to jump into the AI race. Here's what analysts expect it to do
▼ + stars: | 2024-05-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."

Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC

☆ Apple's China sales in focus ahead of earnings
▼ + stars: | 2024-05-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

In February, Apple said it expected sales similar to last year's $94.84 billion during the same period and flat iPhone sales. In the December quarter, sales dropped 13% in Greater China, which includes Hong Kong and Taiwan. Analysts polled by FactSet expect $15.25 billion in China regional sales, which would be a 14% year-over-year decline. "In strong iPhone cycles, Apple's China revenues typically grow much faster than Apple overall, as Chinese consumers embrace the new phone," Sacconaghi wrote. Meanwhile, state statistics show iPhone sales falling 33% in February, the second consecutive month of declining shipments.

Persons: Tim Cook, Deirdre O'Brien, Apple, AAPL, Bernstein, Toni Sacconaghi, Sacconaghi, David Vogt, Aaron Rakers, There's, Morgan Stanley, Erik Woodring, Woodring Organizations: Apple, Analysts, FactSet, Huawei, Chinese Communist Party, Counterpoint Research, UBS Locations: China, Greater China, Hong Kong, Taiwan, repurchases

☆ All the big Nvidia calls after AI conference: Goldman raises target to $1,000, JPMorgan sees 'dominance'
▼ + stars: | 2024-03-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Goldman Sachs Goldman Sachs' Toshiya Hari joined a handful of analysts turning more bullish on the chipmaker following the keynote event, boosting the firm's price target to $1,000 from $875. Wells Fargo Wells Fargo analyst Aaron Rakers said Nvidia didn't shock investors with any unexpected updates, but he still raised his price target to $970 from $840. Sur retained his overweight rating and $850 price target. The analyst retained his $1,100 price target and buy rating, citing the company's ongoing leadership within the AI value chain. The analyst retained his outperform rating and $1,000 price target, calling the company's ongoing expansion beyond chips "unmatched."

Persons: Jensen, Blackwell, Hopper, Huang, Morgan Stanley, Joseph Moore, Goldman Sachs Goldman Sachs, Toshiya Hari, Hari, bode, Aaron Rakers, NVDA, Morgan Stanley Morgan Stanley's Joseph Moore, Moore, Harlan Sur, Sur, Bank of America's Vivek Arya, Bernstein, Bernstein's Stacy Rasgon, Taylor Swift Organizations: Nvidia, Wall, Blackwell, Micron Technology, JPMorgan, NVIDIA, Bank of America, Bank of America's, SAP Center Locations: 2H24, Wells Fargo Wells Fargo, San Jose

Mizuho initiated Home Depot with a buy rating, calling for roughly 10% upside. The bank upgraded shares of the industrial equipment manufacturer to a buy rating. Analyst Manav Gupta also lifted his price target to $170 from his prior target of $152. Analyst Gavin Parsons reiterated his buy rating on the stock and price target of $275. The bank initiated coverage of the home improvement stock at a buy rating, setting a price target of $415.

Persons: Mizuho, Manav Gupta, Howden, Gupta, GTLS, — Lisa Kailai Han, Gavin Parsons, Parsons, Fred Imbert, David Bellinger, Bellinger, Wells Fargo, Aaron Rakers, Goldman Sachs, Toshiya Hari, Bernstein's Stacy Rasgon, Taylor Swift, Jensen, Huang Organizations: CNBC, UBS, Boeing, Nvidia, Industries, YE2026E, Department of Energy, Alaska Airlines, Mizuho, SAP Center, Blackwell, ~$ Locations: Howden, GTLS, Mizuho, San Jose

Gould is more bullish than many on Wall Street, as the average price target of analysts polled by LSEG is $484.42. Analyst Harold Antor downgraded the stock to hold from buy and slashed his price target by $4 to $8. Analyst Jeffrey Stantial upgrade the sports betting stock to buy from hold and raised his price target by $5 to $45. Stantial's new price target implies shares can jump 19.9% over the next year from Thursday's close. UBS raised its rating on Texas Instruments to buy and increased its price target to $195 from $170.

Persons: Chipmakers, Wells, Bernstein, PDD, Robin Zhu, Zhu, Temu, there's, Shein, — Alex Harring, Alan Gould, Gould, Jefferies, Hertz, Harold Antor, Antor, There's, Saul Martinez, Martinez, Alex Harring, Stifel, Jeffrey Stantial, Stantial, Wells Fargo, Aaron Rakers, Mark Zuckerberg, Zuckerberg, TXN, Timothy Arcuri, FCF –, Fred Imbert Organizations: CNBC, UBS, Texas, Nvidia, Meta, PDD Holdings, Netflix, HBO, LSEG, Hertz, EV, Jefferies, HSBC, Discover, Facebook, Big Tech, Texas Instruments Locations: China, Thursday's

☆ Nvidia isn't the only winner from Meta Platform's massive spending on AI chips
▼ + stars: | 2024-01-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

Meta Platforms is planning to pay Nvidia billions of dollars this year for its cutting-edge AI technology. Nvidia's stock has been off to a blistering start this year, up more than 20%, including a 3% gain Friday. Estimates on Nvidia's share of the AI training market vary, but is generally thought to be well above 80%. Still, Nvidia's stock more than tripled in 2023, leading the S & P 500, and has so far been a big winner in 2024. As Meta secures more AI chips, they will be placed in data centers where their computational capabilities will be utilized.

Persons: Mark Zuckerberg, Zuckerberg, Meta, they've, Jim Cramer, Wells, Wells Fargo, Aaron Rakers, Jim, Eaton, We've, Jim Cramer's, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Taiwan Semi, Meta, Apple, Facebook, Reality Labs, Eaton Corp, CNBC, European Commission, AFP, Getty Locations: Taiwan, Wells Fargo, Brussels

☆ Narrative on Nvidia will continue to be dominated by the data center business: Wells Fargo's Rakers
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNarrative on Nvidia will continue to be dominated by the data center business: Wells Fargo's RakersAaron Rakers, Wells Fargo managing director, joins 'Squawk on the Street' to discuss Nvidia's quarterly earnings results, the impact of export restrictions to China, the threat posed by other A.I. competitors, and more.

Persons: Wells Fargo's Rakers Aaron Rakers, Wells Organizations: Nvidia Locations: Wells Fargo, China

☆ Goldman, JPMorgan and others crank up Nvidia price targets in wake of latest earnings
▼ + stars: | 2023-11-22 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Several analysts hiked their price targets for the stock to show they expect greater upside ahead after the latest financials. Below, CNBC Pro compiled a list of major investment firms that raised their price targets following the Nvidia report, along with their key conclusions: Goldman Sachs Analyst Toshiya Hari raised the price target by $20 to $625. Morgan Stanley Analyst Joseph Moore added $3 to his price target, bringing it to $603. BMO Capital Markets Like JPMorgan, BMO analyst Ambrish Srivastava hiked his target price by $50 to $650. Bernstein Analyst Stacy Rasgon increased his target price by $25 to $700, equating to 40% upside over the coming year.

Persons: Jensen Huang, chalked, Goldman Sachs, Toshiya Hari, Harlan Sur, Morgan Stanley, Joseph Moore, Aaron Rakers, Vivek Arya, Timothy Arcuri, NVDA, Ambrish Srivastava, Grace Hopper, Ruben Roy, Bernstein, Stacy Rasgon, Vijay Rakesh yanked, 2024E, INTC's, William Stein, Michael Bloom Organizations: Nvidia, CNBC Pro, Center, Foundry Service, JPMorgan, NVIDIA, " Bank of America, NVDA, UBS, BMO, Markets, AMD Locations: China, Tuesday's, CY24, CY25

☆ Here’s what major analysts thought of the new iPhone and what to do with Apple’s stock
▼ + stars: | 2023-09-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

He highlighted the enhanced photo capabilities on Pro models and called the new double tap feature the most notable upgrade to the Apple Watch. Many analysts expected hikes around $100 and $200 for the beefed up Pro and Pro Max iterations. Apple essentially delivered a $100 price hike on the Pro Max by doing away with the lower storage option. He noted that the hike on the Pro Max skewed to the low end of the Wall Street firm's expectation range. Evercore ISI's Amit Daryanani regarded the event as "mildly disappointing" for bulls hoping for a Pro price increase.

Persons: Toni Sacconaghi, Canaccord Genuity's Michael Walkley, Goldman Sachs, Michael Ng, Wells, Aaron Rakers, Pro Max, iPhones, Atif Malik, Evercore ISI's Amit Daryanani, David Vogt, Samik Chatterjee, Erik Woodring's, Morgan, Apple, Woodring, Sacconaghi, — CNBC's Michael Bloom Organizations: Apple, Apple Watch, Wall, Pro, Citi, UBS Locations: China

☆ Nvidia reported another blowout quarter, and analysts don't see that momentum waning
▼ + stars: | 2023-08-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

And it's already a popular business: the company reported $10.32 billion in data center revenue, reflecting a 171% increase from the same quarter a year ago. Roy also raised his price target for shares to $600, which reflects a 27.3% jump from Wednesday's close. If met, that price target equates to a more than 310% gain from where the stock finished 2022. Bank of America's Vivek Arya hiked his price target to $650 from $550, and Atif Malik of Citi now expects the stock to go to $630. In addition to the data center business, Goldman's Hari pointed to improving supply as a reason to be optimistic that there's still upside ahead.

Persons: Refinitiv, Ruben Roy, Roy, Wells, Aaron Rakers, Goldman Sachs, Toshiya Hari, America's Vivek Arya, Atif Malik, Goldman's Hari, BofA's Arya, Hari, Ross Seymore, he'd, NVDA, Michael Bloom Organizations: Nvidia, Bank, America's, Citi, Deutsche Bank Locations: Wells Fargo

☆ We're in the early innings of software monetization for Nvidia, says Wells Fargo's Rakers
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in the early innings of software monetization for Nvidia, says Wells Fargo's RakersAaron Rakers, Wells Fargo managing director, joins 'Squawk on the Street' to discuss his thoughts on the price action for Nvidia, if Nvidia's supply can keep pace with demand, and more.

Persons: Wells Fargo's Rakers Aaron Rakers, Wells Organizations: Nvidia Locations: Wells Fargo

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