Investors hope that good news from Nvidia’s quarterly earnings report on Wednesday will stop the bleeding in artificial-intelligence stocks. But the smart money is split on whether the chip maker’s shares are still worth buying.
Among the bulls are JPMorgan analysts. In a Tuesday note, they recommended a short-dated option trade that will pay off if Nvidia’s stock climbs after tomorrow’s earnings, citing its role as a key supplier to AI companies and data-center operators.
The bank’s target price for Nvidia is $215, compared to its Monday closing price of $186.60. The stock slipped more than 1% in premarket trading Tuesday.
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