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Nvidia Up Only 3% YTD, Bank of America Sees Underperformance Creating Buying Opportunity

GateNews
Stocks
According to Vivek Arya, Bank of America analyst, Nvidia shares rose only 3% year-to-date as of July 7, compared to an 80% gain for the Philadelphia Semiconductor Index (SOX-US) during the same period. Arya stated that while market concerns exist, investor sentiment has become overly pessimistic and missed the company's strong pricing power and supply chain commitments. He expects Nvidia's next-generation Rubin platform to command higher prices than current Blackwell products, supporting gross margins near 75% despite higher memory component costs. Nvidia stock closed up 3.7% on July 9 at $204.12 per share, with Arya noting the company's forward price-to-earnings ratio of 18.69 times near 11-year lows.
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