Jonathan Cohen, director of artificial intelligence software, told investors Monday that the firm recently hosted NVIDIA Corporation founder and CEO Jensen Huang, CFO Collette Kress and Simone Jankowski, vice president of investor relations, for face-to-face meetings with investors.
Their decision to maintain an "Above Market" rating for NVIDIA Corporation shares, as well as a target price per share of $180, analysts attributed their decision to Cohen's conservative policy, despite Nvidia management's confidence in the long-term growth of China and computer games market, which analysts, in turn, support.
Analysts also noted that NVIDIA management sees an important market for the company's future expansion, even though the U.S. government has recently strictly monitored exports of the organization's flagship data center gas pedals.
Meanwhile, in the gaming sector, according to Cohen, Nvidia executives have drawn investors' attention to an estimate of $5 billion in actual final demand in the second and third quarters of '23.
Analysts believe that despite the company's admission that the ASPs/mix figure has been inflated in recent periods, which could be due to insufficient supply, the company has confidence in ASPs as a driver of future gaming industry growth when things normalize. Despite analysts' belief in the potential of the technology company in both areas (China and the gaming industry), they are more cautious about forecasting short-term prospects, given the sharper consumer weakness and the volatile export control environment in the United States.