NVIDIA ETFs Seesaw Last Week: What's in Store?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2024
0mins
Should l Buy SAP?
Source: NASDAQ.COM
- NVIDIA Stock Performance: NVIDIA experienced a volatile week, reaching all-time highs initially but later facing a reversal with a 2.5% decline.
- Analyst Ratings and Market Cap: Bank of America maintains a Buy rating for NVIDIA with a $150 price target, emphasizing it as a "top pick." NVIDIA briefly surpassed Microsoft as the most valuable company but closed below Microsoft's market cap.
- AI Enthusiasm and Profitability Concerns: Analysts warn of potential profit-taking due to AI enthusiasm, which could create a bubble. Venture capital firm Sequoia's research indicates that industries spent $50 billion on NVIDIA chips for AI training but only generated $3 billion in revenues.
- Outlook for Ecosystem Partners: Analysts emphasize downstream profitability for NVIDIA's ecosystem partners like Adobe, Salesforce, SAP, and ServiceNow. Failure to monetize new AI features by these firms could impact NVIDIA's growth trajectory.
- Future Predictions and Price Targets: Despite recent stock performance, analysts believe NVIDIA could reach a $4 trillion market cap. Short-term price targets average at $124.79, with forecasts ranging from $69.00 to $150.00.
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Analyst Views on SAP
Wall Street analysts forecast SAP stock price to rise
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 203.740
Low
30.28
Averages
297.01
High
401.93
Current: 203.740
Low
30.28
Averages
297.01
High
401.93
About SAP
SAP SE (SAP) is a Germany-based company. The Company provides business application software. It operates through three segments: Applications, Technology and Services, which engages in the sale of software licenses, subscriptions to its cloud-based applications and related services, primarily support services and various professional services, and support services, as well as implementation services for its software products and educational services on the use of its products; the SAP Business Network segment, which includes its cloud-based collaborative business networks and services related to the SAP Business Network, including cloud applications, professional services and educational services, as well as the Company markets and sells cloud offerings developed by SAP Ariba, SAP Fieldglass and Concur; and the Customer Experience segment, which comprises on-premise and cloud-based products that execute front office functions across the entire customer experience.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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