NVIDIA (NVDA) May be Underestimating Its $100B Market Opportunity - Bernstein
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Bernstein analyst Stacy Rasgon reiterated an Outperform rating and $625.00 price target on NVIDIA (NASDAQ: NVDA) noting that the company gauges its overall TAM (across datacenter, edge, and HPC) having increased by 20x since 2015, from $5B to $100B today. However is this possible? While the analyst does not model out the entire opportunity open to NVDA, she seems to think it is reasonable noting that the acceleration silicon opportunity within the datacenter itself could total $20B-$50B+.
She stated "On top of the accelerator opportunity, the CPU itself will open up for NVIDIA as well over time, and may blow wide open should they succeed in their ARM purchase. And the opportunity for compute at the edge, while potentially more nebulous and varied, could seemingly be as large or larger given the sheer size of WW tech spending and R&D budgets in compute-intensive areas where the company is focusing (whether it be healthcare, robotics, smart cities, etc.)."
Shares of NVIDIA closed at $539.90 yesterday.
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