The company should benefit from increased interest in virtual reality and the potential for consumers to switch over from AMD, RBC said.
Nvidia shot up as much as 3.5% in early Monday trading after RBC Capital Markets upgraded its price target to reflect a 20% upside forecast. The company should see improved growth driven by its video game chips and data center business, analyst Mitch Steves wrote in a Monday note. The US-China trade war, worse-than-expected data center growth, and competition with rival chipmaker AMD are Nvidia's biggest risks, the analyst said. Watch Nvidia trade live here. Nvidia stock jumped as much as 3.
Nvidia shot up as much as 3.5% in early Monday trading after RBC Capital Markets upgraded its price target to reflect a 20% upside forecast. The company should see improved growth driven by its video game chips and data center business, analyst Mitch Steves wrote in a Monday note. The US-China trade war, worse-than-expected data center growth, and competition with rival chipmaker AMD are Nvidia's biggest risks, the analyst said. Watch Nvidia trade live here. Nvidia stock jumped as much as 3.
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