Bank of America: Nvidia's stock price drop provides a buying opportunity, target price $150

ChainCatcher news, Bank of America Securities released a report stating that Nvidia (NVDA.O) will announce its earnings on August 28, maintaining a "Buy" rating and being the industry favorite.

Regarding reports of delays in the launch of Nvidia's next-generation Blackwell chip, the firm noted that Blackwell will not be included in estimates until the fourth quarter. There were no signs of delays at the company's recent SIGGRAPH conference, and major cloud customers (increasing capital expenditures) as well as key supplier TSMC did not mention any delays.

At the same time, Nvidia can extend the lifecycle of the current generation Hopper while launching a lower-complexity version of the Blackwell chip as a stopgap. The firm believes that the decline in Nvidia's stock price presents a buying opportunity, as the challenge lies not in demand but in supply, which will not fundamentally undermine the stock's long-term momentum, giving a target price of $150. (Jin Ten)