Nvidia shares rallied Monday after one analyst confirmed that the GPU maker is his "top pick" among companies expected to benefit from AI.
Nvidia Corp. shares rallied Monday after one analyst confirmed that the graphics processing unit maker is his “top pick” among companies expected to benefit from artificial intelligence, and that a recent selloff makes for a good buying opportunity.
On Monday, Morgan Stanley analyst Joseph Moore, who has an overweight rating on Nvidia NVDA and a $500 price target, said the stock remains his favored play heading into earnings, with the company due to report its results on Aug. 23 after the close of markets. Read: George Soros loads up on AI chip makers Nvidia and AMD while selling Salesforce and Snowflake shares
Read: Nvidia stock soars toward all-time high as record revenue forecast backed by ‘killer app’ of AI Read: Will AI do to Nvidia what the dot-com boom did to Sun Microsystems? Analysts compare current hype to past ones.
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