NVIDIA : Jefferies raises its price target on the stock
June 24, 2024 at 06:17 pm IST
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Jefferies maintains its Buy rating on Nvidia shares, with a price target raised from $135 to $150, to 'reflect the positive outlook observed' during a trip to Asia.
NVDA remains dominant and influential, which could significantly affect the growth of Marvell Technology (MRVL) and Arteris (ALAB), the broker believes.
On June 26, we will be meeting with the management teams of four of the five AI companies (NVDA, AVGO (Broadcom Inc.), MRVL and ALAB) in our basket to obtain further information on their strategy and products in the AI ecosystem', the analyst points out.
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NVIDIA Corporation is the world leader in the design, development, and marketing of programmable graphics processors. The group also develops associated software. Net sales break down by family of products as follows:
- computing and networking solutions (55.9%): data center platforms and infrastructure, Ethernet interconnect solutions, high-performance computing solutions, platforms and solutions for autonomous and intelligent vehicles, solutions for enterprise artificial intelligence infrastructure, crypto-currency mining processors, embedded computer boards for robotics, teaching, learning and artificial intelligence development, etc.;
- graphics processors (44.1%): for PCs, game consoles, video game streaming platforms, workstations, etc. (GeForce, NVIDIA RTX, Quadro brands, etc.). The group also offers laptops, desktops, gaming computers, computer peripherals (monitors, mice, joysticks, remote controls, etc.), software for visual and virtual computing, platforms for automotive infotainment systems and cloud collaboration platforms.
Net sales break down by industry between data storage (55.6%), gaming (33.6%), professional visualization (5.7%), automotive (3.4%) and other (1.7%).
Net sales are distributed geographically as follows: the United States (30.7%), Taiwan (25.9%), China (21.5%) and other (21.9%).