The Street Is Sleeping on Nvidia Stock, Says Top Analyst - TipRanks
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NVIDIA announced the launch of the next-generation GeForce RTX 40 Series GPUs powered by the Ada Lovelace architecture.
Huang also said that the 2nd-generation OVX systems – designed for scaling out metaverse applications and set to be powered by Ada Lovelace L40 data center GPUs – are also now in full production.
Nvidia (NVDA) stock has been through the wringer this year and even the latest announcements made by the chip giant at its fall GTC gathering didn’t really help to move the needle on the shares.
(To watch Mosesmann’s track record, click here)
Mosesmann is hardly the only analyst to come out bullish for NVDA; the stock has a 23 to 9 split in favor of Buy reviews over Holds, giving it a Moderate Buy consensus rating.
(See Nvidia stock forecast on TipRanks)
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Yet, the Street’s tepid reaction is perhaps a reflection of the sheen Nvidia has lost over the past year; dwindling Gaming sales, the expected loss of GPU revenue over the Ethereum merge and the US government’s restrictions on exports of the H100 to China have all helped sour sentiment for this once unstoppable growth story.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst.
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