Investors have found Nvidia's (NVDA)  latest results to be underwhelming, 𓆉Wall Street is calling on them to buy the dip.

Several Nvidia (NVDA) analysts came out in support of the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) darling's "strong" quarterly results in notes after its 澳洲幸运5官方开奖结果体彩网:slowing growth, reported last night, underwhelmed t𝔉he market, sending its shares about 3% lower in early trading.

Nvidia on Wednesday reported blockbuster quarterly earnings. The chipmaker's second-quarter revenue and net income more than doubled from last year, surpassing analysts' estimates. Its shares fell, however, as investors focused on signs of slowing growth at the chipmaker at the heart of the AI boom.

JPMorgan Lifts Tar𒁃get to $155, Blackwell Issues Sorted Out

JPMorgan analysts raised their price target to $155 from $115 and reiterated their overweight call on the stock, noting strong demand for Nvidia's existing Hopper chips while the highly anticipated next-generation Blackwell GPU is now 澳洲幸运5官方开奖结果体彩网:on track for production.

"While Blackwell shipments are pushed out as we expected by about 2 months, we do not believe this has any impact to the overall CY24/CY25 revenue profile as that void has been back-filled with Hopper shipment upside given the strong AI demand environment," JPMorgan wrote Thursday.

Wedbush called the results "masterful." For every $1 spent on the company's GPU chip, the broker said, there would be "a $8-$10 multiplier across the tech sector."

"AI GPU demand is way outstripping supply for Nvidia at this juncture and the Street should come away from these results as a very bullish indicator for the broader tech sector with more shock and awe rather than a shrug of the shoulders in our view," wrote Wedbush, which maintained an outperform rating.

Jefferies said that while the earnings beat fell short of expectations, what was important was that the Blackwell delay "is in the rearview  mirror,  while Hopper demand remained strong." Jefferies has a buy rating on Nvidia.

HSBC maintained its buy call and $145 target price on the stock. Bank of America raised its target to $165 from $150.