Dear Nvidia Stock Fans, Mark Your Calendars for May 19
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Nvidia (NVDA) shares are extending gains this morning following reports that its budget-friendly RTX 5060 chip designed primarily for gaming will become available for purchase on May 19.
Nvidia’s RTX 5060 features advanced technologies like DLSS 4 for enhanced frame rates and ray tracing for realistic graphics. It is tailored for 1080p gaming with maxed-out settings, delivering frame rates above 100 fps in many titles.
Despite a material surge in recent weeks, Nvidia stock is still down some 20% year-to-date.
Why Does RTX 5060 Launch Matter for Nvidia Stock?
Nvidia has priced its RTX 5060 at $299. This attractive pricing could drive significant demand and help the chipmaker generate meaningfully higher revenue from its gaming segment moving forward.
The launch of RTX 5060 is particularly significant for NVDA as the multinational saw some weakness in “gaming” in its latest reported quarter.
In late February, the Nasdaq-listed firm said its gaming business generated about $2.5 billion in revenue in its fiscal Q4. Analysts, in comparison, had called for $3.04 billion instead.
NVDA Share Price Factors in a Lot of Bad News
Following a blockbuster 2024, Nvidia stock has been a bit of a disappointment for investors this year, as President Donald Trump’s administration announced aggressive tariffs and stricter restrictions on export of advanced chips to China.
Still, William Blair remains bullish as ever on NVDA shares. In a research note on Friday, the firm’s analysts said the AI stock has already “priced in a lot of the risks around China, tariffs, and slower growth.”
The investment firm expects volatility to linger a little longer in Nvidia, but continues to see the “Magnificent 7” stock as a top pick for long-term exposure to artificial intelligence.
Nvidia Remains a Wall Street Darling
Despite a poor year-to-date performance, the AI company continues to be a “darling” among Wall Street analysts.
The consensus rating on Nvidia stock currently sits at “Strong Buy” with the mean target of $168.35 indicating about 50% upside from current levels.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.