Nvidia: UBS Calls Stock Fears 'Overblown,' Projects $9B Revenue
Despite the company’s slow start to the year on Wall Street, Nvidia (NVDA) is expected to rebound, according to investment bank UBS. Indeed, the institution called the ongoing fears for the stock “overblown” as it projected the company’s revenue to hit the $9 billion mark. There is little argument that the AI chipmaker left 2024 as the biggest winner. Increasing more than 170% last year, there were high hopes that it could continue, if not exceed, its performance over the next twelve months. Although it has failed to live up to those expectations today, that may be changing. Source: Reuters Also Read: Nvidia, Amazon Lead Magnificent 7 Stocks to Watch in January Nvidia Eyes $9 Billion in REvenue as UBS Projects Big Year Ahead The last two years have seen increased AI demand dominate the stock market. Indeed, companies that have shown a prioritization of the emerging technology have been favored. There may be no better example of this than Nvidia. Although the comp...