Keep an eye on Nvidia (SYM: NVDA).
After dropping from about $145 to $116.16, the tech giant has become oversold at support dating back to October. It’s also over-extended on RSI, MACD and Williams’ %R.
Helping, Bank of America analysts just reiterated a buy on the NVDA stock, noting that NVDA is a “top pick ahead of NVDA’s FQ4′25 (Jan) earnings call scheduled for 26-Feb. We expect modest beat/inline sales guidance and lower GM [gross margins] in FQ1 (Apr) given Blackwell product transition/China restrictions,” as quoted by CNBC.
Analysts at Tigress Financial have a buy rating and a $220 price target on NVDA.
The firm added, “We upgrade our investment rating from Buy to Strong Buy and increase our 12-month target price to $220 as NVDA continues to be a core holding in the powerful AI investing theme and the industry-leading beneficiary of the significant capital investment in AI development driving the ongoing acceleration of AI adoption across all industries and enterprises, which will continue to drive significant revenue and cash flow growth and greater shareholder value creation and view yesterday’s selloff as a major buying opportunity,” as quoted by Seeking Alpha.
Plus, the latest DeepSeek news priced into the pullback. And there’s a lot to get excited about with the company – especially with the Stargate project – and its position as one of the top artificial intelligence chip providers.
“The Stargate Project is a new company which intends to invest $500 billion over the next four years building new AI infrastructure for OpenAI in the United States. We will begin deploying $100 billion immediately. As part of Stargate, Oracle, NVIDIA, and OpenAI will closely collaborate to build and operate this computing system. This builds on a deep collaboration between OpenAI and NVIDIA going back to 2016 and a newer partnership between OpenAI and Oracle,” according to OpenAI.com.
From its current price of $116.66, we’d like to see NVDA initially refill its bearish gap at around $145 a share, near-term.
We wouldn’t ignore NVDA potential – especially with the AI boom booming.
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