Analyst raises Nvidia price target to $144, citing strong demand for GPUs and AI growth potential.

From Nasdaq: 2024-07-02 15:13:50

Nvidia (NASDAQ: NVDA) shares have dropped nearly 13% from their recent high of over $140 per share. Analyst Joseph Moore raised his price target to $144, citing increased earnings per share estimates. Despite the correction, strong demand for Nvidia’s GPUs continues, making it a good investment opportunity.

Moore sees a strong narrative for Nvidia with potential for growth in the AI semiconductor space. With a backlog of orders for current GPUs and upcoming Blackwell chip shipments, Nvidia remains in a strong position for future sales. Investors should consider buying Nvidia shares based on its solid sales base and upcoming AI products.

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Read more at Nasdaq: Is Nvidia Stock Going to $144? 1 Wall Street Analyst Thinks So.