NVIDIA Corporation's strong market position and positive outlook from BofA Global Research have fueled investor optimism, leading to a notable rise in its stock price. BofA's reaffirmation of a "Buy" rating and a price target of $190 reflects confidence in NVIDIA's fundamentals, particularly its robust data center market presence and anticipated 60% y/y growth in data center sales for CY25. Despite potential challenges such as lower gross margins due to product transitions and geopolitical tensions, NVIDIA's strategic advantages in AI and data center technologies continue to attract investor interest. The upcoming GPU Technology Conference is expected to further enhance sentiment with insights into NVIDIA's innovations in AI and robotics.
The GraniteShares 2x Long NVDA Daily ETF (NVDL) surged 4.78% to $48.45 at 10:00 AM on Tuesday, February 4.