Jefferies Reiterates Buy Rating on NVIDIA (NVDA), Says Ecosystem Is “Chasing NVDA”

NVIDIA Corporation (NASDAQ:NVDA) is one of the AI Stocks in the Spotlight This WeekOn October 17, Jefferies reiterated the stock as “Buy.”

Following a global conference of semiconductor companies and others, Jefferies says everyone is rushing to catch up to Nvidia’s ecosystem.

“One of the clear takeaways from the conference is that the entire ecosystem is chasing NVDA. We are seeing everyone chasing the scale-up opportunity at a multiyear disadvantage vs. NVDA.”

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $215 implies a 17.35 % upside; however, the Street-high target of $389 implies an upside of 112.7%.

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.

While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.