Nvidia Beats, Stock Dumps—BofA Says Buy the Dip — SkimNews
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- Nvidia posted record Q1 revenue of $81.6 billion, up 85% YoY and 20% QoQ, beating analysts’ $79.1 billion forecast by $2.5 billion.
- Nvidia’s data‑center sales surged 92% YoY to $75.2 billion, driving a 75% gross margin and $48.6 billion free cash flow for the quarter.
- Bank of America maintained a “buy” rating on Nvidia, raising its price target to $350 (implying ~57% upside) and flagged the stock’s 8.3% weight in the S&P 500 as a key risk.
- Bank of America projects the AI market will exceed $3 trillion by 2030, citing a $200 billion CPU opportunity and $145 billion in customer commitments that benefit Nvidia.
- Jensen Huang said “Agentic AI has arrived,” underscoring the rapid scaling of AI workloads that fuel Nvidia’s growth.
Why it matters: Institutional investors could capture ~57% upside from BofA’s $350 target, while Nvidia’s 8.3% S&P 500 weight may force index‑fund rebalancing, adding volatility to the rally in the broader market.
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