Antonio Bordunovi
- Nvidia (NASDAQ:NVDA) was in focus on Monday as Citi opened up a 90-day positive catalyst watch on the semiconductor giant after a pullback in the stock since last month's GTC event.
- Shares rose 0.7% in premarket trading.
- "Recent supply chain discussions indicate demand visibility has extended into 1H25 with CY24’/25′ GPU unit outlook well aligned with our 4.3M/5.2M base case model," analyst Atif Malik wrote in an investor note. "We expect supply chain commentary from key foundry/HBM memory suppliers during earnings and Computex Taiwan on June 2nd where NVIDIA CEO Jensen Huang will deliver a keynote which could be positive catalysts for the stock."
- Malik has a Buy rating and $1,030 price target on Nvidia, implying roughly 17% from current levels.