[BT Financial Analyst] Nvidia's stock rose 98% this year. Analysts say it is driving the world's biggest technological change

Chip giant Nvidia (Nvidia) will release its first-quarter earnings results on May 24. Rosenblatt Securities analyst Hans Mosesmann expects Nvidia to meet or exceed expectations in the first and second quarters due to growth in the data center and gaming division. Analyst Mosesmann is optimistic$NVIDIA (NVDA.US)$Nvidia's stock, so his target price is $320, which means the stock has a potential to rise 10.52% from the current level.

Notably, Nvidia's impressive performance in 2023 was impressive, with the stock rising to around 98% year-to-date. OpenAI's ChatGPT is currently receiving a lot of attention and popularity, while Nvidia dominates the field of artificial intelligence, which has contributed to the rise in its stock price.

Semiconductor stocks such as Nvidia will be affected due to slowing demand in the terminal market and inventory issues. However, the popularity surrounding artificial intelligence and expectations of a recovery in the data center and gaming markets may underpin Nvidia's stock.

Wall Street expects Nvidia's revenue to reach 6.52 billion US dollars, in line with the company's management's expectations. Furthermore, this figure reflects a continuous improvement in the company's revenue compared to the previous quarter. On the fourth-quarter earnings call, the company announced quarterly growth in each of its target markets and the strong momentum of its data centers and gaming will help Nvidia's continued improvement in sales. As sales performance improved, analyst Mosesmann also praised Nvidia's position in the field of artificial intelligence. In a report, the analyst said that Nvidia has driven the biggest technological change in the world, which may be revolutionary artificial intelligence in all parts of the world and in all fields.

Additionally, Nvidia's earnings per share are expected to improve in the first quarter. Analysts expect Nvidia's earnings per share to reach $0.92 in the first quarter compared to $0.88 in the fourth quarter. However, Nvidia's earnings per share are likely to decline year over year.

Nvidia's leading position in artificial intelligence and the anticipated recovery in terminal market demand are positive factors facing the company, and analysts remain optimistic about Nvidia's prospects.

Author: Amit Singh

[BT Finance Reminder] This article is for reference only and does not constitute investment advice. Investors should not use this report as the sole reference factor for making investment decisions, nor should they consider it a substitute for their own judgment. [This article is a simplified version of BT Finance Analyst's article. Starting October 25, 2022, BT Finance will no longer publish the full article on platforms other than the BT Finance Data Connect Mini Program and App.]

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