Nvidia (NVDA) stock was on track Friday to notch one of its best weeks of the year and recover most of its losses from previous weeks as investors heeded analysts' recommendations and 澳洲幸运5官方开奖结果体彩网:bought the dip. 

Nvidia shares were little changed midd🃏ay Friday, putting the st๊ock up nearly 16% for the week in its second massive rebound in a volatile month for the chipmaker’s stock. 

Shares got a boost earlier this week when CEO Jensen Huang, speaking at a Goldman Sachs conference, called demand for Nvidia's products "澳洲幸运5官方开奖结果体彩网:incredible" and touted the size of the company's market opp🐻ortunity.

"澳洲幸运5官方开奖结果体彩网:Generative AI is not just a tool. It i💮s a skill," Huang told Goldman Sachs CEO David Solomon at the event. "And so that's why p🦩eople think that AI is going to expand beyond the $1 trillion of data centers and IT, and into the world of skills."

A Rough Two Weeks for Nvidia

Nvidia's rebound came after the stock tumbled more than 20% in the prior two weeks as Wall Street’s optimism about all things AI waned and its quarterly earnings report, despite 澳洲幸运5官方开奖结果体彩网:exceeding official estimates, fell s🎐hort of investors’ lofty expectations. 

And yet the turbulence appeared to have more to do with maᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚrket🐓 sentiment than with the strength of the chipmaker’s business. 

Reports that Nvidia’s next-generation Blackwell system would be 澳洲幸运5官方开奖结果体彩网:delayed by a design flaw contributed to a sharp sell-off in early August. However, as far as analysts can tell, delays 澳洲幸运5官方开奖结果体彩网:won’t have much impact on quarterly sales. 

💯 That’s in part because demand for Nvidia’s chips is so strong that customers will take whatever they can get.

Cloud hyperscalers Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOG; GOOGL) each said in their most recent earnings reports that they would continue to up their 澳洲幸运5官方开奖结果体彩网:AI infrastructure spending—a substantial amount of which goes toward Nvidia chips—throughout this year and next as they build out their AI capabilities. Tesla (TSLA) CEO Elon Musk estimated that the electric vehicle maker would 澳洲幸运5官方开奖结果体彩网:spend between $3 and $4 billion on Nvidia’s 💎chips this year, rep🀅resenting as much as 40% of its total AI spending. 

What Analysts Think About Nvidia Stock

The sheer strength of demand is one major reason that analysts still have Nvidia at the top of their buy lists despite the stock’s loss of momentum lately. Bernstein analysts in a note earlier this week reiterated Nvidia was one of their top semiconductor picks, calling it “the best way to play AI.”

“Yes, the numbers are so good (and moving so high, so fast) that investors worry about sustainability,” the analysts wrote. “However,” with margins likely to improve next year while Blackwell sales ramp 💧up, “the time to worry isཧ clearly not now.” 

Bank of America Securities analysts struck a similar note when they argued late last week that Nvidia stock’s pullback offered an “澳洲幸运5官方开奖结果体彩网:enhanced Buy opportunity.”

Of the 63 Nvidia analysts tracked by FactSet Research, 50 rated the stock a “Buy,” the highest possible rating. Only four analysts gave the stock a neutral rating, and none recommended investors sell it.