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Nvidia: UBS Calls Stock Fears ‘Overblown,’ Projects $9B Revenue
Nvidia: UBS Calls Stock Fears ‘Overblown,’ Projects $9B Revenue
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Despite a slow start to the year on Wall Street, Nvidia (NVDA) is expected to rebound, according to investment bank UBS. The institution labeled the ongoing fears for the stock as 'overblown' and projected the company’s revenue to reach $9 billion. Nvidia, the AI chipmaker, had a Stellar 2023, with its stock increasing over 170%. Although it has not met high expectations in early 2024, UBS believes a turnaround is imminent. The last two years have seen AI demand significantly influence the stock market, with companies prioritizing AI technology performing well.
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