Nvidia stock sell-off is overdone, Goldman Sachs analyst says
Published On Sep 9, 2024, 5:42 PM
Goldman Sachs analyst Toshiya Hari believes the recent sell-off in Nvidia's stock is overdone, maintaining a Buy rating. Despite a significant drop in Nvidia's market value, caused by a nearly 10% fall in one day and investor concerns about earnings momentum, Hari emphasizes strong demand for Nvidia's accelerated computing and AI technology. He notes the resilience of Nvidia's competitive position and the long-term potential of generative AI in driving revenue growth. Goldman expects substantial contributions from AI advancements by late 2025.
Stock Forecasts
NVDA
Positive
With Goldman's bullish outlook and the recovery from the recent sell-off, Nvidia's stock is likely to rebound as investors regain confidence in its long-term growth prospects, especially in AI and computing sectors.
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