Nvidia just delivered the biggest revenue quarter in its history.
The stock fell anyway
That’s become a pattern—the chipmaker has declined after three of its last four earnings calls, even as the numbers keep getting bigger. Bank of America isn’t fazed. Lead analyst Vivek Arya and his team reiterated their buy rating yesterday, named Nvidia a top pick, and raised their price target from $320 to $350—implying 56.6% upside from the current price of $223.47.
The investment note’s top line read: “Beat/raise speaks volumes, ignore noise, buy top pick.” Before unpacking why, a quick decoder for readers who don’t follow Wall Street jargon daily. A “beat” means a company earned more than analysts predicted. A “raise” means its guidance—its own forecast for next quarter—also came in above expectations.