Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » Nvidia stock can climb for the next 12 months, S&P Global analyst says
    Cryptocurrency News

    Nvidia stock can climb for the next 12 months, S&P Global analyst says

    userBy userSeptember 14, 2024No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    AndreyKrav/iStock, Michael M. Santiago/Getty, Tyler Le/BI

    • Nvidia’s stock rally has another 12-18 months left to go, according to S&P Global’s Andrew Chang.

    • The stock has at least another year of “strong runaway” amid big demand for its chips, Chang said.

    • He aired concerns over AI investment pulling back in future quarters, which could impact shares.

    Nvidia stock has a lot more room to climb — and shares of the market’s most popular chip maker are bound to soar for at least another year, according to Andrew Chang, a technology director at S&P Global Ratings.

    The banking veteran pointed to recent comments from Jensen Huang, who sparked a sharp rally in NVDA shares this week after speaking at a Goldman Sachs conference in San Francisco. The Nvidia CEO issued more guidance on consumer demand and, in particular, demand for Blackwell, the company’s next-gen GPU.

    His comments bolster predictions of continued upside for Nvidia, Chang said in an interview with Schwab Network on Friday.

    “It just confirms our view that we have strong runway for at least the next 12 months,” Chang said.

    Nvidia’s partners are also showing signs of strong chip demand. Oracle, which has an ongoing partnership with Nvidia, bumped up its revenue forecasts after beating earnings for the first quarter. The software firm also doubled its planned capital expenditures for the fiscal year — which are all bullish signs for Nvidia.

    “All of these are great data points that, at least for the next 12 to 18 months, things look great,” Chang said of the Jensen Huang-led firm.

    Still, he acknowledged some concerns investors have been airing. Some have floated worries that Nvidia’s growth is unsustainable, given the stock’s monster 2,514% gain over the last five years.

    Some analysts have warned demand for Nvidia’s chips may not hold strong in the coming years, as the firm’s largest customers could eventually turn into competitors. Apple and Microsoft, two huge customers of Nvidia’s GPUs, are reportedly working on their own AI chips.

    “Ultimately, if Oracle, if Microsoft, if Amazon don’t see the ROI that they expect, they’re going to cut orders. So hyperscale, demand volatility is something that really concerns us,” Chang said. “But, you know, these data center players have been known to order a bunch and then pause for several quarters. That’s what we’re looking out for.”

    Investors will also need to be on the lookout for tighter regulation of AI. Nvidia was recently targeted by the Department of Justice in a fresh antitrust probe, Bloomberg reported, and it’s just a “matter of time” before other countries follow suit and try to regulate the technology, Chang said.

    Nvidia stock sold off in the weeks following its earnings report at the end of August, but the stock staged a fresh rally this week alongside other tech stalwarts including Oracle and Super Micro Computer.

    Wall Street remains generally bullish on Nvidia. According to Nasdaq data, analysts have issued an average price target of $153 a share, implying a 29% upside from current levels.

    Read the original article on Business Insider



    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleECB Cuts Rates Again, While Markets Prepa
    Next Article Gold price September 13, 2024
    user
    • Website

    Related Posts

    What Does It Mean to Be Risk Neutral as an Investor?

    January 18, 2025

    SLB boosts dividend and buybacks, but warns of oil oversupply

    January 17, 2025

    Intel Stock Soars as Takeover Speculation Spreads

    January 17, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d