Nvidia’s (NVDA) stock has skyrocketed this year, propelling markets to new heights with its unprecedented expansion. Wedbush SVP of Equity Research Hardware Matt Bryson joins Morning Brief to shed light on his outlook for the stock.
Bryson notes that anything related to Nvidia in the near term “it’s all good news.” With funding for AI initiatives consistently on the rise, Bryson says, “If everyone is spending on AI, things look really good.” However, he acknowledges that the next generation of AI products will be the defining factor in determining the future gateway for AI offerings. Nonetheless, Nvidia’s upcoming Blackwell platform is expected to continue fueling expansion, according to Bryson.
When it comes to the next catalyst for expansion, Bryson points to Blackwell. Although the platform is not slated for release until the end of the year, Bryson remains unfazed, stating, “There’s really, really strong demand ’til then, so I don’t see any stumbling points… through the course of 2024.”
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