1 Wall Street Analyst Thinks Nvidia Stock Is Going to $150. Is It a Buy?

Chip export restrictions to China have been an overhang on Nvidia (NASDAQ: NVDA) shares. But after dipping below the $100 level, Bank of America analyst Vivek Arya believes the leading artificial intelligence (AI) chipmaker is worth buying.Earlier this week, the analyst lowered the firm's price target on the shares from $160 to $150, implying 44% upside over the recent $104 share price, while maintaining a "buy" rating.Nvidia disclosed on April 15 it would take a $5.5 billion financial hit as a result of the U.S. government's licensing requirement for its H20 chip designed for the China market. Last year, China made up 13% of the company's revenue. It's a hit in the near term, but long term, Nvidia has more opportunities to drive growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool