CICC Still Bullish on NVIDIA

CICC Still Bullish on NVIDIA March 6, 2024, 12:05 p.m., readers: 9

CICC analysts recently highlighted NVIDIA's (NASDAQ:NVDA) strong positioning within the AIGC (AI-Generated Content) domain, attributing this to its pioneering role in accelerated computing, along with its technological edge and robust ecosystem. The firm has initiated coverage on NVIDIA with an Outperform rating and a target price of $870. They emphasized NVIDIA's potential to benefit from the burgeoning demand for AIGC infrastructure, underpinned by its AI technology prowess and extensive ecosystem. The analysis further pointed out the significant contribution of cloud and AIGC to the exponential growth of NVIDIA's data center business. NVIDIA's integration of software and hardware is seen as pivotal in advancing computing platforms and solidifying its competitive edge. Additionally, the firm noted that NVIDIA will continue to lead the high-end graphics card market in the gaming sector, supported by its technological advancements and comprehensive ecosystem.

About NASDAQ: NVDA

N VIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing;

Price: 874.15
Market cap: 2.2 trillion USD
Eps: 11.95
P/e ratio: 73.15
Focus Analysis On: NVDA
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