JPMorgan keeps an Overweight rating on Nvidia (NVDA) with a $215 price target after hosting an investor meeting with management. The company’s demand continues to outweigh supply, which is keeping lead times “stretched but stable,” the analyst tells investors in a research note. The firm says that even with Blackwell Ultra ramping sharply in Q2, management noted that lead times have remained fairly consistent. This shows that demand is still outstripping supply more than two years into this artificial intelligence spending cycle, contends JPMorgan.
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