According to Odaily, Bank of America Securities has released a report maintaining a 'buy' rating for Nvidia (NVDA.O) ahead of its earnings announcement on August 28. The report also designates Nvidia as the top choice in the industry. Addressing reports of a delay in the launch of Nvidia's next-generation Blackwell chip, the bank noted that Blackwell is not expected to be included in estimates until the fourth quarter. Additionally, there were no signs of delays at Nvidia's recent SIGGRAPH conference, and major cloud customers and key supplier TSMC have not mentioned any delays either.
Nvidia has the option to extend the lifecycle of its current generation Hopper chip while introducing a less complex version of the Blackwell chip as a temporary measure. The bank believes that the recent decline in Nvidia's stock price presents a buying opportunity, as the challenges are related to supply rather than demand, and will not fundamentally undermine the stock's long-term momentum. The target price is set at $150.