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Nvidia shares (NVDA) climbed more than 4% Thursday as tech stocks led a market rebound. Wall Street has been bullish on the AI chip heavyweight following a decline of more than 25% from the stock’s all-time high of $140.
On Wednesday Piper Sandler analysts pointed investors to a “tremendous opportunity” to buy the AI chip heavyweight and other chip names following the sector’s recent sell-off.
Several Wall Street analysts have shrugged off a recent report of a possible delay in Nvidia’s next-generation chip called Blackwell, as the company dominates the AI data center chip sector.
“We still sense an urgent demand across the board, and that mitigates the risk in a pause in shipments as customers wait for the next generation of chips to be available in volumes,” New Street Research technology infrastructure analyst Antoine Chkaiban told Yahoo Finance on Thursday.
Chkaiban recently raised the stock to a Buy rating with a price target of $120.
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