NVIDIA Corp. shares have rebounded following a recent correction, with one analyst suggesting the company’s market capitalization could reach $4 trillion in the future. Wedbush analyst Daniel Ives referred to the recent stock decline as a short-term pullback, predicting a bullish case of $200 per share for Nvidia. Ives also praised Nvidia CEO Jensen Huang as a key figure in the AI industry. In addition, Ives identified Palantir Technologies Inc. as the “purest” AI company in the market, emphasizing the company’s recent advancements and potential for future monetization.
The recent correction in Nvidia stock raised concerns about the company’s influence on the S&P 500 index and the broader market. However, analysts like Ives and economist Jeffrey Roach remain optimistic about Nvidia’s future potential and the importance of AI in driving productivity gains. Palantir’s role in the AI market has also been a topic of discussion, with investors and experts debating the company’s potential as an investment alongside industry giants like Microsoft and Amazon.
On Tuesday, NVIDIA Corp. closed at $126.09, up 6.76% on the day, with after-hours trading pushing the stock to $127.24, a 0.91% increase. Year-to-date, Nvidia has seen a significant increase of 161.76%. Palantir Technologies Inc. closed at $24.56, up 1.66%, with after-hours trading showing a slight increase to $24.61, up 0.20%. Year-to-date, Palantir has demonstrated strong performance, up 48.13% according to Benzinga Pro data.
Overall, the outlook for both NVIDIA Corp. and Palantir Technologies Inc. remains positive, with experts like Daniel Ives highlighting their potential for growth in the AI market. Investors continue to monitor these companies closely as they navigate through market fluctuations and capitalize on emerging opportunities in the technology sector.
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https://www.benzinga.com/news/24/06/39494035/dan-ives-labels-nvidia-correction-a-near-term-pullback-hails-palantir-as-purest-ai-name-amid-growing