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.

Read full article

Stock Forecasts

NVDAView NVDA chart on TradingView

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.

Related News

Nancy Tengler encourages investors to have a ‘longer-term perspective’ on Magnificent 7 stocks | Fox Business Video

Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'

AAPL
MSFT
NVDA

Nvidia stock aims for new record high as AI boom shows no sign of slowing

Oct 9, 2024, 12:23 PM

Nvidia stock is aiming to notch a new all-time high, as the AI boom shows no sign of slowdown.

NVDA

Nobel Prize in Chemistry Is Awarded to 3 Scientists for Work With Proteins

Oct 9, 2024, 5:49 AM

Demis Hassabis and John M. Jumper of Google DeepMind predicted protein shapes with A.I. while David Baker designed “a new protein that was unlike any other,” the committee said.

NVDA
EDIT