[ad_1]
Bank of America said Nvidia will continue to be a leader in the industry with its new gaming cycle as well as its artificial intelligence capabilities. The Wall Street firm maintained its buy rating on the chipmaker as the stock hit another record high Wednesday, pushing the company back above a $1 trillion market cap. Analyst Vivek Arya said he’s particularly bullish on Nvidia’s new graphics card as well as its new game release. “NVDA continues to gain market share as new cards ramp,” Arya said. “NVDA increased graphics card user share to 76.4%. … We see potential for accelerated adoption trends with upcoming release of the RTX 4060, the latest card in NVDA’s most popular ’60 series’ primarily targeting mainstream/enthusiast gamers.” NVDA YTD mountain Nvidia Nvidia is at the center of an AI craze on Wall Street. The stock has rallied more than 190% this year as investors piled into the AI enabler after the company recently made a shockingly strong forecast of future demand. Bank of America said Nvidia is a top pick in the semiconductor industry for its gaming potential and AI leadership, while putting a neutral rating on its rival AMD , and an underperform rating on Intel , as the companies continue to lose market share. “Peak-to-trough discrete GPU sales were down 55%-60%, clearing way for adoption of new gaming cards,” Arya said. “We remain Buy on NVDA (gaming cycle + unrivaled AI accelerator, networking, software leadership).”
[ad_2]
Source link
