NVIDIA (NVDA) Stock Gets Bullish Call Amid U.S.–China Chip Agreement Reports

NVIDIA Corporation (NASDAQ:NVDA) is one of the AI Stocks Investors Are Watching CloselyOn August 12, Bank of America reiterated the stock as “Buy.” The firm said that it is sticking with the stock after reports of a favorable deal for Nvidia to receive chip export licenses.

“Busy period of interactions between the US Government (USG)/White House (WH) and major US chipmakers. The critical nature of semis is likely to enhance these interactions that will continue to be both positive and a headwind/source of volatility. Recent news involves: 15% potential tax/levy on sales of specific AI chips in return for China approvals: a net positive and we maintain Buys on NVDA, AMD.”

NVIDIA (NVDA) Stock Gets Bullish Call Amid U.S.–China Chip Agreement Reports

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $190 implies a 5.10% upside; however, the Street-high target of $250 implies an upside of 38%.

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.