Opinions
Mark Sebastian
NVIDIA Corporation
NVDA-Q
Unspecified
Sep 23, 2024
$116.260
Stock price when the opinion was issued
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HOLD
Probably a good place to write some calls against it, especially as average analyst price target is ~$175. Over next few days, analysts will probably up price targets due to H20 chips being allowed to China. It'll be king of the hill for at least 18 more months. Should definitely be in your top 5.
(Analysts’ price target is $175.00)
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BUY ON WEAKNESS
NVDA vs. AVGO
Clear winner, because its chips make AI possible. There is some competition out there, but AVGO isn't one of them. Look for a good buying opportunity.
He sees a parallel with INTC, which was a darling for many years. Not now. NVDA still has the market share; there are companies trying to catch up, but NVDA is still further ahead.
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He thinks it is fully valued with the growth priced in. The chip record can be cyclical and there could be a glut of GPU's, probably not next year but in 3 to 5 years.