Wedbush raised the firm’s price target on Nvidia (NVDA) to $330 from $300 and keeps an Outperform rating on the shares. The firm notes Nvidia’s strong Q1 with revenues and EPS outpaced consensus estimates, while management guided $91B in Q2 sales, which Wedbush believes pipped buyside expectations and handily exceeded prior sell side forecasts, despite management presumably leaving out another few billion in cushion to set up another beat. Gross margins are holding steady at 75%, and CEO Jensen is forecasting nearly $20B in CPU sales alone this year. Furthermore, Nvidia’s CEO is also suggesting Vera Rubin will likely be supply constrained throughout the course of the life of the platform.
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