Nvidia stock receives a 30-day catalyst watch; Here's what it means for NVDA

Core Viewpoint - Nvidia's stock has experienced volatility due to capital rotation from the tech sector, but upcoming catalysts may lead to significant gains in the next 30 days [1][2][3]. Group 1: Stock Performance - Over the last 30 days, Nvidia's stock (NVDA) lost 0.15% of its value, with a notable decline of 9.76% in the previous five trading sessions [1]. - On July 19, NVDA shares retraced by 2.61%, although pre-market gains of 2.04% were observed at the time of writing [1]. Group 2: Analyst Insights - Citi analyst Atif Malik reiterated a "buy" rating and set a price target of $150 for Nvidia shares, citing three key catalysts related to the upcoming SIGGRAPH 2024 conference [2]. - The anticipated discussion between Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg may lead to announcements regarding AI advancements and the new Arm-Based Grace CPU for servers, which could enhance Nvidia's market position [2]. - Insights into the ROI of AI investments from the CEOs' conversation are expected to influence investor confidence in Nvidia's stock [2]. Group 3: Market Trends - The conference is expected to highlight a growing demand trend for AI, which is not showing signs of slowing down [3]. - A current 13% price/earnings discount on Nvidia's stock due to geopolitical concerns presents a potential buying opportunity [3]. Group 4: Expansion Plans - Nvidia is reportedly developing a version of its flagship AI chips for the Chinese market, complying with U.S. export controls, in collaboration with distributor partner Inspur [4]. - The new chip, tentatively named "B20," is expected to begin shipments in the second quarter of 2025, although regulatory approval from U.S. authorities remains uncertain [4].