TECH - Why Is Nvidia Stock Trading Higher Friday? | Benzinga
Nvidia Corp (NASDAQ: NVDA) stock is trading higher Friday as it continues to make headway into the Chinese market despite the U.S. embargo.
B of A Securities analyst Vivek Arya reiterated a Buy rating on Nvidia with a price target of $700. The stock is Arya's top pick.
The analyst views Nvidia as the biggest beneficiary of the growing AI accelerator market.
NVDA has a leading 75%-80% position in the rapidly growing accelerator space with next-generation GPUs.
Arya expects NVDA to maintain its leading 75%+ market share position, followed by a 10%-15% share combined across hyperscalers and OEMs investing in custom ...