Nvidia may be at the forefront of AI innovation, but other companies look poised to ride its coattails. Shares of the chip giant pulled back about 2% during Tuesday's session, after announcing its latest AI chips . That, however, didn't stop some Wall Street analysts from upping their price targets on the stock — up more than 75% this year — and retaining their bullish stance.
mountain Nvidia shares in 2024 "With leading silicon , hardware/software platforms, and a strong ecosystem, NVIDIA is well positioned to continue to benefit from major secular trends in AI, high-performance computing, gaming, and autonomous vehicles, in our view," said JPMorgan analyst Harlan Sur. "Bottom line: NVIDIA continues to be 1-2 steps ahead of its competitors.
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