There are 5 reasons why Nvidia stock is a top pick even after its monster AI-fueled rally, according to Bank of America
After an investor meeting with Nvidia's CFO and senior vice president of gaming, Bank of America analyst Vivek Arya concluded that demand for the semiconductor company's AI chips like the H100 appears sustainable, which is an encouraging sign for investors who are betting generative AI has more lasting power than Web 3.0 or the metaverse.1.
4."Underappreciated opportunities for Nvidia to expand its market from just AI accelerators into high-performance CPU , data processing and Mellanox infiniband + Ethernet networking." 5."Gaming could be on verge of a sustained recovery in second half with solid adoption of new Ada 4060 and with 80%+ of Nvidia's 200+ million deployed base of gamers using 3060 and older gaming GPU." "Net-net, we gain more confidence Nvidia can support long-term earnings per share above $20, based on 65% accelerator market share," Arya said.
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