Mizuho Raises Nvidia (NVDA) Price Target, Keeps Outperform Rating
This decision came after the Trump administration announced that NVIDIA Corporation (NASDAQ:NVDA) and other GPU makers could resume GPU shipments to China as part of ongoing trade talks.
Mizuho sees this development as a big win for NVIDIA Corporation (NASDAQ:NVDA). The company had previously expected an $8 billion revenue impact in the July quarter because of shipment restrictions to China.
The firm noted that key Chinese customers like ByteDance and Tencent are already applying for licenses to get NVIDIA Corporation's (NASDAQ:NVDA) H20 chips, which shows early positive signs from the new shipment rules. Mizuho believes that the US companies, including NVIDIA Corporation (NASDAQ:NVDA), are regaining access to a $50 billion market.
NVIDIA Corporation (NASDAQ:NVDA) is an American multinational technology company that is known for its graphics processing units (GPUs), AI hardware and software, and high-performance computing (HPC) solutions.
While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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