William Blair analyst Sebastien Naji has maintained their bullish stance on NVDA stock, giving a Buy rating yesterday.
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Sebastien Naji has given his Buy rating due to a combination of factors surrounding Nvidia’s strategic partnership with Intel. This collaboration is set to significantly enhance Nvidia’s market presence by integrating Intel’s CPU technology with Nvidia’s NVL72 racks through NVLink, and by providing GPU chiplets for Intel’s CPUs. This move not only broadens Nvidia’s reach into the x86 ecosystem but also expands its potential footprint in the integrated GPU PC market, which represents a substantial portion of the total PC market.
Moreover, the partnership is expected to increase Nvidia’s total addressable market by approximately $50 billion, according to CEO Jensen Huang. This expansion, coupled with Nvidia’s sustained competitive advantage and strong momentum in AI infrastructure, positions the company favorably against competitors like AMD. The joint development of PC and data center chips, along with the integration of Nvidia’s RTX GPU chiplets into Intel’s x86 CPUs, further solidifies Nvidia’s strategic growth trajectory, making the stock an attractive investment opportunity.
In another report released yesterday, D.A. Davidson also reiterated a Buy rating on the stock with a $210.00 price target.
Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.