TECH - Nvidia Set For Steady Gains With Software-Centric Shift And Blackwell Transition Analysts Say | Benzinga
Nvidia Corp (NASDAQ:NVDA) shares are trading higher ahead of this week’s earnings report.
Rosenblatt analyst Hans Mosesmann maintained a Buy rating on Nvidia with a $1,400 price target.
Mosesmann expects Nvidia to beat and raise in the April quarter, albeit not reaching the levels of the January quarter, due to improved supply and anticipated year-over-year deceleration from tougher comparisons.
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The analyst noted that Nvidia still faces shortages of CoWoS and HBM, although the shortage of CoWoS will likely improve as the year progresses.
He did not buy the air-pocket theory in the Hopper to Blackwell transition for the July quarter guide, as the transition to B100 is likely for later in 2024. In reality, the transitions to B200 and GB200, both of which are 2025 products, will drive the true generational disruption. The analyst also anticipates that Blackwell will be completely sold out, at least for a year.
Mosesmann said it is likely that Nvidia will lose unit market share to custom ASICs, Advanced Micro Devices, Inc’s (NASDAQ:AMD) ...