Analysts Predict Nvidia's Stock Could Surge Up to 28% Ahead of Earnings Report

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ICARO Media Group
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15/11/2024 23h58

**Nvidia's Stock Anticipated to Surge Up to 28% Ahead of Key Earnings Report**

Nvidia is set to reveal its third-quarter earnings next week on November 20, and anticipation is running high within the investment community. With notable analysts from UBS and Morgan Stanley recently raising their price targets for the tech giant, there is speculation the stock could experience an upswing between 10% and 28%.

UBS and Morgan Stanley's revised targets foresee Nvidia's stock potentially reaching $160 and $185, respectively. Such optimistic projections come on the heels of Nvidia's recent strides in AI and the upcoming launch of its Blackwell GPU, which is stirring considerable excitement among investors and analysts alike.

Nvidia's new GPU launch is a significant focus for stakeholders. The company's CEO, Jensen Huang, has hinted at a robust demand that surpasses current supply capabilities, putting Nvidia in a promising position to see substantial revenue growth. Morgan Stanley even estimates that sales from the Blackwell GPU could possibly hit $10 billion this year.

Despite the bullish outlook, there are underlying concerns. Nvidia's strategic shift away from key partner Super Micro Computer could pose potential challenges, especially if operational issues arise during manufacturing and production. These factors could temper the stock's short-term performance, despite optimistic earnings projections.

Finally, it's essential to consider Nvidia's recent stock performance. Since OpenAI's release of ChatGPT on November 30, 2022, Nvidia's stock has soared by 758%. In the past year, it has seen a 205% increase, and 198% this year up to mid-November.

While the immediate outlook for Nvidia appears positive, discerning investors, including those following Warren Buffett's advice, might remain cautious of overly aggressive market sentiment. Long-term prospects look promising, but whether Nvidia can continue its meteoric rise remains to be seen.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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