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Nvidia (NVDA, Financial) stock rebounded nearly 7% on Wednesday morning as investor optimism returned ahead of the upcoming GTC 2025 conference. Despite a challenging year, shares have fallen over 15% and remain nearly 24% off their early January high. The rally signals renewed market confidence.
Investors are now focusing on potential catalysts from the conference, which could alleviate concerns over ongoing tariff updates and national security restrictions on semiconductor exports to China. A fresh analyst note from Citigroup's Atif Malik supports this view, maintaining Nvidia as a buy with a $163 price target and suggesting a 43% upside even after today's gain.
Accoring to reports, Nvidia could join a group of semiconductor leaders in a joint venture to run Intel's U.S. foundry facilities. This could be one of Nvidia's strategic moves that will help mitigate the risks of metal tariff to boost domestic manufacturing capacity and this will also help Nvidia for its long haul growth.
This article first appeared on GuruFocus.