.September 19, 2024
4:08:37 PM

Timothy Horan of Oppenheimer sets a price target of $215 for Nvidia Corporation (NASDAQ:NVDA), indicating an 81.69% potential upside from its current price. This reflects the bullish sentiment surrounding Nvidia’s stock, driven by its strong market position and contributions to the AI industry.

The Federal Reserve’s decision to cut interest rates by 50 basis points has positively impacted the technology sector, particularly benefiting companies like Nvidia that are at the forefront of AI. This move has created a more favorable macroeconomic environment for growth stocks, leading to increased investor interest in Nvidia.

Nvidia’s stock has surged, with a notable increase of $4.5 or approximately 3.97% in a single day. This surge is a result of the optimistic outlook on the macroeconomic landscape following the rate cut, which has favored growth stocks like Nvidia due to its substantial market presence and investor interest.