Market intelligence platform AlphaSense has raised $150 million in a fresh round of funding that boosted its valuation to $2.5 billion, underscoring strong demand for artificial intelligence (AI) startups.
South Korea is much different than the United States, both culturally and geographically. It has only a small percentage of the land mass, a population centered around one urban area (Seoul), and just a small sliver of the physical retail locations such as shopping malls.
Amazon (NASDAQ: AMZN) has come a long way since it started as an online book retailer almost 30 years ago. It has become a household name worldwide, dominating e-commerce markets in multiple countries. Its meteoric rise provided the resources to expand to countless other industri
Famed investor Peter Lynch once said: "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." While fears of a recession may not be as elevated as they were a year ago, there is
Oracle ORCL has demonstrated its commitment to delivering innovative cloud infrastructure services across Mexico, by becoming the first hyperscaler to open two cloud regions in the country. This expansion is part of ORCL's distrib
Fintel reports that on September 28, 2023, Needham reiterated coverage of Amazon.com (NASDAQ:AMZN) with a Buy recommendation. Analyst Price Forecast Suggests 37.57% Upside
U.S. stock index futures slipped on Thursday as soaring oil prices cemented the prospects for a prolonged restrictive monetary policy, while investors awaited economic data and Federal Reserve Chair Jerome Powell's remarks during the day.
Poland's biggest e-commerce platform Allegro expects core earnings growth to accelerate in its home market, it said on Thursday, citing the impact of higher wages, after its second quarter results beat market expectations.
Growth stocks suffered last year as rising inflation and general economic woes weighed on the market. Investors preferred safer stocks, such as those that pay dividends or companies selling goods or services we always need -- like healthcare. Since the start of this year, though,
Amazon (NASDAQ: AMZN) is used to being at the center of the conversation when it comes to new technology. The company has been a pioneer in everything from e-commerce to e-books to cloud computing. However, the tech giant has been somewhat left out of market discussions around ar
When the going gets tough on Wall Street, investors have often turned to time-tested businesses that offer a history of outperforming the broader market. In 2023, the "Magnificent Seven" fits that definition perfectly.
Tech giant Amazon (NASDAQ: AMZN) is getting some added attention from the markets recently. However, it's not directly related to Amazon's core e-commerce and cloud businesses. Amazon's latest updates help lay the foundation for future advertising and artificial intelligence (AI)
Several
tech stocks, including Nvidia (
NASDAQ:NVDA
), have witnessed a sell-off recently due to persistent macro challenges and concerns about elevated interest rates. Nvidia stock has declined about 8% over the past month. Nonetheless, the stock has
rallied by an impressive 191% year-to-date, thanks to the demand for its advanced graphics processing units (GPU) that are needed to build and train generative
artificial intelligence (AI) models. Despite macro uncertainty and worries over slowing demand, analysts remain bullish on NVDA stock and see the pullback as an attractive opportunity to build a long-term position in the leading
chip giant.
Nvidia’s Recent Performance
Last month,
Nvidia crushed Wall Street’s expectations by reporting a 101% growth in its fiscal second-quarter
revenue to $13.51 billion. Further solid margins and top-line growth fueled a
429% jump in adjusted earnings per share (EPS) to $2.70.
In particular, the company’s Data Center segment generated a 171% revenue growth, backed by a spike in demand for its HGX platform from cloud service providers and large consumer internet companies. During the Q2 2023 earnings call,
CFO Colette Kress called the HGX platform the “engine” of generative AI and large language models (LLMs), which is being deployed by major companies, including Amazon’s (
NASDAQ:AMZN
) Amazon Web Services, Alphabet’s (
NASDAQ:GOOGL,
GOOG
) Cloud, Meta Platforms (
NASDAQ:META
), Microsoft (
NASDAQ:MSFT
) Azure, and Oracle (
NYSE:ORCL
) Cloud.
Analysts Optimistic on NVDA’s Future Growth
Expressing his bullish stance,
Morgan Stanley analyst Joseph Moore said on Monday that the recent pullback in the stock due to worries about slowing AI orders for Nvidia from Microsoft has created yet another opportunity to buy the AI leader. Moore highlighted that an analyst at a data-centric boutique research firm noted that Microsoft was lowering its H100 requirements for 2024, a concern that was heightened by an SEC filing revealing that NVIDIA has significant exposure to a single cloud customer, which the analyst thinks is “very likely Microsoft.”
Moore contended that while he can’t comment on specific 2024 budgets for any single customer, checks show that demand is well above supply for NVDA’s H100 chips in many regions and with several customers. Also, supply chain reports indicate that Microsoft is pushing for more product than they are currently getting, which assures that “there isn’t a near term air pocket with that customer.”
Moore reiterated a Buy rating on NVDA stock with a price target of $630, as he expects the company to benefit from continued AI investments, growth in inference platforms, and a B100 GPU product cycle.
Like Moore,
Truist analyst William Stein is also bullish on Nvidia and reaffirmed a Buy rating on the stock with a price target of $668 on Tuesday. Stein called Nvidia and semiconductor company Monolithic Power Systems (
NASDAQ:MPWR
) his favorite ideas. He believes that NVDA’s chips are the “default choice” for most engineers building AI systems. He also thinks that the company has sustainable market leadership in gaming and autonomous driving end markets.
What is the Prediction for Nvidia Stock?
With 40 Buys against just one Hold recommendation,
Nvidia stock earns a Strong Buy consensus rating on TipRanks. The average price target of $635.48 implies about 50% upside potential from current levels.
Conclusion
Despite macroeconomic woes, Wall Street remains bullish on Nvidia and sees continued upside in the stock even after a phenomenal year-to-date rally. Analysts expect the demand for Nvidia’s AI chips to boost its revenue and earnings over the long term.
Disclosure
Fintel reports that on September 27, 2023, Mizuho reiterated coverage of Amazon.com (NASDAQ:AMZN) with a Buy recommendation. Analyst Price Forecast Suggests 37.53% Upside
Fintel reports that on September 27, 2023, Argus Research reiterated coverage of Amazon.com (NASDAQ:AMZN) with a Buy recommendation. Analyst Price Forecast Suggests 37.53% Upside
Fintel reports that on September 27, 2023, Wedbush reiterated coverage of Amazon.com (NASDAQ:AMZN) with a Outperform recommendation. Analyst Price Forecast Suggests 37.53% Upside
Amazon (AMZN) closed the most recent trading day at $125.98, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 0.02%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq add
Looking to bolster your tech portfolio? Here are three stocks that have pulled back with the broader market in September, but look poised for growth going forward.
Uruguay digital payments company dLocal Ltd will pause its expansion plans and focus on strengthening existing operations in over 40 countries, co-CEO Pedro Arnt told Reuters on Wednesday, hinting at a new phase for the fast-growing firm.