TECH - Dan Ives Labels Nvidia Correction A 'Near-Term Pullback' Hails Palantir As 'Purest AI Name' Amid Growing Market Use Cases | Benzinga
The stock of NVIDIA Corp (NASDAQ:NVDA) has seen a significant rebound after a recent correction, with a prominent analyst suggesting that the company’s market cap could reach $4 trillion. Additionally, the analyst has identified Palantir Technologies Inc. (NYSE:PLTR) as the ‘purest’ AI stock.
What Happened: Dan Ives, an analyst at Wedbush Securities, referred the recent dip in Nvidia’s stock as a “near-term pullback,” in an interview with BNN Bloomberg.
He also predicted that the company’s market cap could soar to $4 trillion, placing it alongside tech giants like Apple Inc. (NASDAQ:AAPL) and Microsoft Corp (NASDAQ:MSFT) as the world’s most valuable company.
When asked about Nvidia’s price target, Ives suggested a bullish case of $200. He also praised Nvidia CEO Jensen Huang as a key figure in the AI industry.
Shifting the focus to Palantir Technologies Inc (NYSE:PLTR), Ives dismissed the notion that ...