Nvidia stock went up over 4% on Tuesday because analysts were optimistic about strong demand for its computer chips. Stifel analyst Ruben Roy raised his price target for Nvidia to $180, while Truist Securities’ William Stein raised his price forecast to $167. Roy mentioned that Nvidia is doing well in the market and could make a lot of money in the future. Wall Street analysts also expect Nvidia to sell a lot of chips to Nebius Group, a cloud provider in the US. Even though there were reports of problems with Nvidia’s chips, Nvidia has said that everything is normal. Dell Technologies has already started using Nvidia’s latest chips in their products. Despite some concerns, most analysts are positive about Nvidia’s future earnings and sales. KeyBanc analysts were a bit more cautious, but they still recommend buying Nvidia stock.
Vocabulary List:
- Optimistic /ˌɑːp.tɪˈmɪs.tɪk/ (adjective): Hopeful and confident about the future.
- Forecast /ˈfɔːr.kæst/ (noun): A prediction or estimate of future events especially in economics or business.
- Concerns /kənˈsɜːrnz/ (noun): Worries or anxieties regarding something.
- Analysts /ˈæn.ə.lɪsts/ (noun): Experts who analyze data and trends in specific fields.
- Demand /dɪˈmænd/ (noun): The desire of consumers to purchase goods and services.
- Cautious /ˈkɔː.ʃəs/ (adjective): Careful to avoid potential problems or dangers.
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