AI-driven chipmaker Nvidia (NVDA) stock is surging this week as investors and top analysts bet on potential big announcements at its upcoming GTC Conference, fueling optimism for further gains. Recently, five-star-rated analyst Atif Malik joined others in maintaining a bullish outlook on NVDA stock, forecasting strong upside potential.
Nvidia Gears Up for GTC Conference
NVDA stock has faced heavy selling pressure in recent sessions amid ongoing tariff uncertainty and recession fears. Over the past 30 days, the stock has declined over 14%. However, anticipation around Nvidia’s upcoming GTC conference next week in California has fueled a 6% rebound this week. According to Wedbush analyst Daniel Ives, next week’s GTC conference could be a “turning point” for U.S. tech stocks.
NVDA stock also gained momentum following market reports suggesting that Nvidia could join a group of companies collaborating on operating Intel’s (INTC) U.S. factories. This move may help mitigate concerns surrounding tariffs and export regulations.
Citi Maintains Buy Rating on NVDA Stock
Citi’s Malik sees strong growth potential for NVDA, with the event expected to showcase major advancements. A key focus is the rumored unveiling of new AI chips such as Blackwell Ultra and Rubin chips. These could deliver notable gains in inference performance—an area of keen interest, particularly as Nvidia competes against custom ASIC solutions. He believes that these advancements could serve as a crucial catalyst for the stock’s potential rebound.
Additionally, Malik stated that Nvidia’s stock appears attractive as it trades at a reasonable valuation, with the company successfully managing risks tied to China and AI export rules. Overall, Malik remains optimistic, seeing its technological advancements as a key growth driver despite ongoing uncertainties.
Is Nvidia a Good Stock to Buy?
According to TipRanks, NVDA stock has received 39 Buys and three Holds in the last three months. At $177.41, the Nvidia average share price target implies a 53.3% upside potential.
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