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 from the Blackwell product transition and geopolitical tensions, the company's strategic advantages in AI and hardware-software co-optimization are expected to drive continued demand, especially from Western markets. The upcoming GPU Technology Conference is also anticipated to enhance investor sentiment with insights into NVIDIA's innovations in AI and robotics.
The ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) surged 4.84% to $10.18 at 10:00 AM on Tuesday, February 4.