Bank of America: Nvidia's stock price decline provides a buying opportunity, target price $150

Bank of America Securities issued a report stating that Nvidia (NVDA.O) will announce its earnings on August 28, maintaining a "buy" rating and being the industry's top choice. Regarding reports that Nvidia's next-generation Blackwell chip will be delayed, the bank noted that Blackwell will not be included in the estimate until the fourth quarter, and there was no sign of delay in the company's recent SIGGRAPH conference, and major cloud customers (increasing capital expenditures) and major supplier TSMC did not mention delays. At the same time, Nvidia can also extend the life cycle of the current generation of Hopper and launch a less complex version of the Blackwell chip as a stopgap measure. The bank believes that the decline in Nvidia's stock price provides a buying opportunity because the challenge is not in demand but in supply, and it will not fundamentally undermine the stock's long-term momentum, giving a target price of $150. (Jinshi)