EV Slowdown Might Be Undebatable But EV Innovation Is Unstoppable
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
0mins
Should l Buy NVDA?
Source: Yahoo Finance
- EV Innovation: Rivian redesigned its R1 pickup and SUV models using Nvidia chips to enhance range, performance, and computing power, showcasing continuous EV innovation.
- Hardware and Software Evolution: Rivian revamped over half of the hardware components in its vehicles, emphasizing the importance of software in EVs compared to traditional vehicles.
- Future Plans: Rivian plans to launch a less expensive EV model, the R2, priced around $45,000 in the first half of 2026, following the trend of making EVs more accessible.
- Solar-Powered Innovation: Worksport introduced SOLIS, a solar-powered tonneau cover for electric pickups, aiming to extend their range and provide off-grid power-on-the-go solutions.
- Innovation Amid Challenges: Despite an EV slowdown, companies like Rivian and Worksport continue to innovate, showing that challenging times can spur groundbreaking inventions in the EV industry.
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Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVDA is 264.97 USD with a low forecast of 200.00 USD and a high forecast of 352.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
41 Analyst Rating
39 Buy
1 Hold
1 Sell
Strong Buy
Current: 171.880
Low
200.00
Averages
264.97
High
352.00
Current: 171.880
Low
200.00
Averages
264.97
High
352.00
About NVDA
NVIDIA Corporation is a full-stack computing infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. The Company’s segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing platforms and artificial intelligence (AI) solutions and software; networking; automotive platforms and autonomous and electric vehicle solutions; Jetson for robotics and other embedded platforms, and DGX Cloud computing services. The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems, and Omniverse Enterprise software for building and operating industrial AI and digital twin applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Enhanced Product Competitiveness: Analyst Cody Acre highlights that AMD's new products are set to compete with Nvidia's Blackwell platform in the second half of the year, marking AMD's first viable competitive offering in the industry, although it still lags behind Nvidia's advanced systems.
- Trend of Customer Custom Chips: With cloud giants like Microsoft and Amazon investing in their own custom ASICs, AMD faces long-term competitive pressure from its customers, which could impact its market share and profitability.
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See More
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- Strategic Importance of AI Accelerators: AMD's MI400 series chips and Helios solutions are set to be pivotal in driving the company's AI business growth, while the increasing role of CPUs indicates a diversified strategy in the evolving AI landscape.
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See More
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