HomeLatest NewsKeyBanc increases price target for Nvidia and other chipmakers following encouraging updates...

KeyBanc increases price target for Nvidia and other chipmakers following encouraging updates from China

KeyBanc Analysts Raise Price Targets for NVIDIA and Other Chipmakers

KeyBanc’s Optimistic Outlook

KeyBanc analysts recently increased their price targets for NVIDIA (NVDA) and several other chipmakers in a note released on Monday. Despite various challenges, they remain optimistic about the robustness of artificial intelligence in the market.

Price Target Adjustments

The price target for NVIDIA (NASDAQ: NVDA) was raised to $1,200, while Qualcomm’s (NASDAQ: QCOM) target was lifted to $205. Monolithic Power Systems’ (NASDAQ: MPWR) target also saw an increase to $850. KeyBanc further adjusted its targets for Arm Holdings (NASDAQ: ARMH) to $135, Micron Technology (NASDAQ: MU) to $150, and lowered Marvell Technology’s (NASDAQ: MRVL) target to $90.

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KeyBanc’s Insights on Asia

In their note discussing the firm’s findings in Asia, KeyBanc highlighted mixed results in the quarterly supply chain. They noted some positive developments in China’s analog sector, while the rest of the world remained subdued. KeyBanc predicted that the first quarter would mark the bottom of this trend.

Market Trends and Expectations

KeyBanc shared insights on various market trends, such as the stable demand for PCs throughout the year and contrasting iPhone demand between China and India. They emphasized the continued strength of high-end Android devices but noted softness in the mid to low-end market segments.

Future Prospects

Despite the challenges posed by cross currents, KeyBanc remains bullish on the growth of artificial intelligence. They also anticipate a significant increase in CoWoS (Chip-on-Wafer-on-Substrate) capacity by 2025, indicating positive long-term prospects for the industry.

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