Nvidia in spotlight as Mizuho ups price target ahead of earnings
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Contributor since / Followers
Contributor since / Followers
1 month ago
BING-JHEN HONG
- Nvidia (NASDAQ:NVDA) was in the spotlight on Friday as Mizuho Securities upped its price target on the semiconductor company ahead of its fiscal second-quarter results, slated to be released later this month.
- Shares were up 1.4% in premarket trading.
- There is still tight capacity for Taiwan Semiconductor’s (TSM) Chip-on-Wafer-on-Substrate with the continued ramp of Nvidia’s H100 and H200 GPUs, analyst Vijay Rakesh said, as Nvidia continues to see strong orders for the line of accelerators. Rakesh upped his price target on Nvidia to $132 from $127.50.
- However, Nvidia is now starting to pivot to the Blackwell line using NVL36/72, which uses a new architecture of Chip-on-Wafer-on-Substrate, known as CoWoS-L. This should continue to ramp into 20205, Rakesh added.
- And even with the news that mass production of the Blackwell line could be delayed until early next year, demand for it hasn’t changed, Rakesh added.
- Lastly, Nvidia could pivot back to the B200A and 210A in the second-half of 2025 and part of 2026 due to better Chip-on-Wafer-on-Substrate supply for low-to-mid budget AI servers, Rakesh said.
- Nvidia is slated to report results after the close of trading on August 28. A consensus of analysts expect the company will earn $0.64 per share on $28.54B in revenue.