Bull of the Day: NVIDIA (NVDA)

$NVIDIA (NVDA.US)$ NVIDIA NVDA has been a rocket in the past month -- up over 40% since October 25 -- even before two events which sent it higher still.

The two events were (1) its annual GPU Tech Conference on November 9, which is always full of great surprises from Jensen Huang and his teams of engineering wizards; and (2) its Q3 beat-and-raise earnings report last Wednesday.

Needham analyst Rajvindra Gill raised his price target on NVDA to $400 from $245, highlighting the 42% growth in Gaming and 55% growth in Data Center revenue. Gill added that only 25% of the current 250M GeForce installed base is on RTX-enabled cards, suggesting a lengthy upgrade cycle ahead and more Gaming upside.

Meanwhile the analyst noted that NVIDIA's Data Center business is being driven by growth of deep learning Inference as GPU acceleration continues to proliferate in servers with more processors moving to the Ampere architecture. $Meta Platforms (FB.US)$

Article excerpted from Yahoo.