Nvidia stock is in a 'soul-searching' moment
Published On Dec 24, 2024, 3:16 AM
Nvidia's stock has faced recent declines, down 5.72% over the past month. Analysts attribute this to growing pains related to the transition to their new AI chip, Blackwell, and issues with product execution and China exposure. Despite this, 94% of Wall Street analysts still rate Nvidia as a "Buy" or "Strong Buy," indicating optimism about its long-term prospects. The company is expected to generate significant revenue from Blackwell in the coming years, especially with upcoming events like CES 2025 attracting attention to the brand.
Stock Forecasts
NVDA
Positive
The short-term challenges Nvidia is facing are seen as temporary setbacks rather than signs of long-term decline. The expected strong sales of the Blackwell chip and ongoing demand for AI technologies suggest that Nvidia could rebound positively in the near future. Investors may find it an opportune time to buy on dips, with a favorable outlook ahead.
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