"All in, we believe NVDA could redirect the cash/equity towards other growth endeavors in AI, Metaverse, game, autos and enterprise AI," wrote the BoA analysts, who rated the stock a buy with a price target of $375.Įnderle Group also weighed in on the deal. In a note released earlier this week, BofA Securities said it believed Nvidia was better off walking away from the deal, which it saw as dilutive and complicated. The deal has faced significant resistance by global antitrust regulators. The sell-off in shares has come amid reports that the graphics and automotive chipmaker was abandoning its $40B bid for U.K.-based chip designer Arm. In comparison, the S&P 500 has dropped 8% year-to-date but has risen 16% over the past 12 months. Nvidia’s (NASDAQ: NVDA) stock has tumbled 23% since the first of the year but is still up 74% compared to the same time last year, thanks to a massive appreciation during 2021. But has this slide led to a buying opportunity, given the company's prospects in the hot metaverse space? Nvidia Falls as ARM Merger Languishes Nvidia’s stock has fallen significantly since the beginning of the year, weighed down by valuation worries and concerns about its troubled ARM purchase.
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