Citi (C) has added NVIDIA (NVDA) to Upside Catalyst Watch on the pullback

• 
  Direction: Upside, Duration: Within 30 Days, expected event date 29 Jul, Catalyst: Corporate event

RATIONALE

• "We are opening a positive catalyst watch on NVDA into SIGGRAPH 2024 conference for three reasons. First, NVIDIA CEO Jensen Huang and Meta CEO Mark Zuckerberg will likely discuss the future of AI and we believe NVIDIA could announce the much-anticipated standalone Arm-Based Grace CPU for servers."


• "Second, the CEO discussion should shed positive light on how NVIDIA’s end customers make money or their ROI profile, a key topic on investors’ minds these days."


• "Third, we expect to hear accelerating AI demand trend at the conference with no signs of an air pocket and view the recent pullback in the stock (13% P/E discount to 3-year average) on geopolitical concerns as a buying opportunity."

22 Jul 2024 - 10:16- Equities- Source: Citi