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Nvidia Dips on Rising Yields as BofA Reaffirms Bullish $350 Target

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The Story

News Summary

  • Nvidia dipped 2% amid surging Treasury yields and a broader semiconductor pullback.
  • Despite short-term macro pressure, BofA reiterated a Buy rating with a $350 price target, citing robust AI compute demand from OpenAI and Anthropic, healthy GPU rental rates, and attractive long-term valuation multiples.
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NVDA price history

218.29 +19.87% over the displayed period

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