Wedbush Securities’ famed analyst Dan Ives believes the recent weakness in Nvidia (NVDA) amid a broader artificial intelligence (AI) rout is a buying opportunity for long-term investors. He reiterated NVDA stock at “Outperform” this morning and stuck with his bullish $300 price objective, which represents potential upside of a whopping 38% from current levels.
Despite the recent selloff, Nvidia shares are up about 15% versus the start of this year.