![]() ![]() In a recent article on the stock, I discussed the company’s big move into self-driving technology. I agree that Nvidia has strong potential to profit from the rise of AI. According to analysts at Bank of America, enthusiasm for the stock is also on the rise thanks to both growing excitement about the company’s prospects in the artificial intelligence (or AI) space and rising hopes of a recovery in the gaming market. This has likely played a role in the strong performance of NVDA stock as of late, but it’s not the sole factor at play. The latest Consumer Price Index (or CPI) number, which indicated a further slowdown in inflation, may signal that the Federal Reserve may ease on interest rate hikes, and possibly make the much-awaited “Fed pivot,” before the end of 2023. Although macro-related worries are still elevated, market optimism seems to be inching higher. ![]()
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