Nvidia likely to remain rangebound through CES in January, says Citi

Citi analyst Atif Malik keeps a Buy rating and $150 price target on Nvidia, stating that while the firm is “bullish” on the company registering “another strong” 40% cloud data center capex growth next year, it also sees the stock remaining range-bound through Consumer Electronics Show in January. Longer term, the firm sees AI adoption remaining in 3rd/4th innings while noting that Blackwell driven sales and gross margin inflection will be coming in April 2025 quarter, the analyst tells investors in a research note.

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