Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
NVIDIA Corporation (NASDAQ:NVDA) is a dominant player in the gaming GPU market, and its competitive position is only going to get better, according to an analyst at Rosenblatt Securities.
The Nvidia Analyst: Hans Mosesmann reiterated a Buy rating and $650 price target for Nvidia.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Nvidia Thesis: Mosesmann is positive on the opportunities that lie ahead for Nvidia, including a recurring revenue stream from Auto, data center inferencing and gaming, following the company's "Virtual Fireside Chat" with Nvidia's CFO Colette Kress.
Automotive is likely to be the strongest catalyst, and the company could announce more partnerships with Automotive OEMs over the course of the year, the analyst said.
Related Link: Will Nvidia Or Micron Stock Grow More By 2022?
In the strategically important data center compute part of the business, Nvidia is likely to continue to gain share, as this market turns away from CPUs and toward GPUs.
"With the recent release of the low-end GeForce RTX GPU, Nvidia has a hand in all parts of the gaming market, and we believe will continue to see strong demand," the analyst wrote in the note.
Nividia is the best managed and strategically positioned semiconductor company, said the analyst, with secular growth prospects driven by AI, gaming, and Automotive in the long run.
NVDA Price Action: At last check, Nvidia shares were down 0.8% to $536.72.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.