Nvidia stock rebounds from rough two weeks

Published On Sep 13, 2024, 1:53 PM

Nvidia's stock has rebounded significantly after a two-week slump that saw it drop over 20%. This recovery is largely attributed to renewed investor interest following positive commentary from CEO Jensen Huang about the strong demand for Nvidia's products. Despite recent volatility, many analysts maintain a bullish outlook on Nvidia, noting that the demand for AI and associated products is expected to remain strong in the coming periods. Analysts from Bernstein have called Nvidia 'the best way to play AI,' and a significant majority of analysts continue to rate the stock as a 'buy.'

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Stock Forecasts

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Positive

Given the robust demand for AI and Nvidia's market position, alongside favorable analyst ratings, the stock is likely to continue trending upward as investors regain confidence and follow through with purchases following a dip.

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