Nvidia’s earnings are sparking a substantial rally in AI stocks. All thanks to surging demand for AI, NVDA earnings “lived up the generative AI hype,” KeyBanc Capital Markets analysts noted, as they hiked their price target on the stock to $500 from $375, as noted by Barron’s. “Nvidia remains uniquely positioned to benefit from AI/machine-learning secular data-center growth.”
Moving along with NVDA, Micron Technology (MU) is on the move – and could see higher highs. Granted, the stock took a hit after being hit with Chinese sanctions, but the AI story appears to be overshadowing that quickly. Better, slight weakness from those sanctions could lead to big things. Keep an eye on it.