.August 5, 2024 2:30:00 PM

Deutsche Bank analysts reiterated a Hold rating and $100 price target on NVIDIA (NASDAQ:NVDA), citing minimal financial risk in the near term due to strong demand from cloud customers. Major cloud service providers like Meta, Microsoft, and Google have reported significant capital expenditure growth.

Despite rumors of potential product delays, analysts anticipate a shift in NVIDIA’s sales mix towards Hopper and alternative Blackwell solutions. While any executional issues could cause concern, they believe NVIDIA’s leadership in AI silicon and systems will drive growth amidst healthy AI demand.

Analysts express confidence in NVIDIA’s position in the AI market and plan to closely monitor the situation leading up to the company’s earnings report on August 28. Further updates from NVIDIA are not expected until the official release.