Nvidia Stock Price: Key Catalyst Coming on May 15, BofA Says
Nvidia investors have a key catalyst on the horizon, according to Bank of America.
Strategists at the bank are watching May 15, the day the US government will roll out the so-called AI Diffusion Rule, a regulatory framework that aims to control foreign countries’ access to high-tech chips from the US.
The rules would impose restrictions on some sales of Nvidia’s chips and potentially narrow its market, but the event could actually end up being positive for Nvidia stock. That’s because the company could recover from its recent slump once wider geopolitical concerns are “sized and priced,” the bank said on Thursday.
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