Posted 4/10/2024, 4:20:00 PM
Nvidia Stock Shakes Off AI Chip Competition, Analyst Sees $1,000 Price Target
- Nvidia stock shakes off new AI chip competition from Google, Intel, and Marvell
- Shares bounce off 10-week line; stock on track to form flat base with 974 buy point
- Analyst calls recent pullback a "refreshing pause" and competitive threats "overstated noise"
- Morgan Stanley analyst raises Nvidia price target to $1,000 with overweight rating
- Nvidia remains AI chip leader with 75%+ market share over next 5 years