NVIDIA Stock Price Outlook: Buy on Q2 Earnings Decline, Wall Street Says

The article discusses the outlook for NVIDIA’s stock price following the company’s second-quarter earnings report. Despite a decline in earnings, Wall Street analysts remain bullish on NVIDIA, citing its strong position in the artificial intelligence (AI) and data center markets. Key points include: NVIDIA’s revenue and earnings fell short of expectations due to a slowdown in gaming and data center sales. However, the company’s AI business continues to grow rapidly, with data center revenue up 61% year-over-year. Analysts believe NVIDIA’s AI leadership and long-term growth potential outweigh near-term headwinds. They recommend buying the stock on any weakness, with price targets ranging from $440 to $600. The article highlights NVIDIA’s dominance in AI hardware and software, positioning it to benefit from the AI boom. Analysts expect the company’s data center business to drive future growth as AI adoption accelerates.

Source: https://markets.businessinsider.com/news/stocks/nvidia-stock-price-outlook-buy-q2-earnings-decline-wall-street-2024-8