Nvidia shares are gradually recovering after their recent correction, while a more attractive valuation is drawing renewed interest from long-term investors. Analysts at major investment banks continue to maintain a bullish outlook on the AI industry leader.
Following the recent pullback, Nvidia has once again become a focal point for investors. Despite trading about 17% below its May high, NVDA's valuation is now one of the most attractive since the beginning of the AI boom. Nvidia's forward P/E ratio has fallen to its lowest level since 2023, while expectations for future revenue growth have remained largely unchanged.
The stock is also being supported by positive views from leading investment banks. Analysts at Goldman Sachs and Bank of America continue to rate Nvidia as a Buy, arguing that the market is overestimating the risks posed by in-house AI chips being developed by Amazon, Google, Meta, and other technology companies.
According to Bank of America, Nvidia still accounts for approximately 65–70% of global AI infrastructure spending, while the upcoming Rubin platform could help sustain the company's rapid growth next year.
$204.60 becomes the key level for Nvidia
After testing its 200-day simple moving average (SMA), Nvidia shares rebounded quickly and successfully reclaimed the key $200 level, signaling that buyer interest remains strong.
The next major level to watch is $204.60. A decisive move and sustained close above this level would significantly increase the probability of a rally toward the next resistance zone between $210 and $212.
This range also coincides with the 50-day SMA, making it an important technical resistance area.
Nvidia's AI dominance remains intact
Despite intensifying competition in the AI sector, Nvidia's fundamental outlook remains strong. Robust demand for AI infrastructure, the company's leadership in AI accelerators, and its more attractive valuation following the recent correction continue to support the long-term investment case.
Latest NVDA News
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