Analyst resets Nvidia stock price target in chip-sector overhaul

Nvidia shares extended their recent run of gains in Tuesday trading, while powering a broader advance in the market's most important sector, following a detailed update on chip-stock prospects from KeyBanc Capital Markets. 

Nvidia  (NVDA) , which powered around a third of the S&P 500's first-half advance, has been the prime beneficiary of an AI-investment surge that has transformed the chip sector while adding nearly $2 trillion to its overall market value.

Demand for its market-leading processors and semiconductors, as well as the hype surrounding the launch of its new Blackwell system, has catapulted Nvidia into one of the world's biggest stocks, with a market value of $3.1 trillion. 

And in turn these factors have dragged rival chipmakers such as Advanced Micro Devices  (AMD)  and Micron Technology  (MU)  to outsized first-half gains. 

The Philadelphia Semiconductor Sector index, the market's industry benchmark, has risen more than 38% this year, more than double the advance of the S&P 500. The chip index hit a record 5,826.16 points early in Tuesday trading.

In front of the screen, what do you think about the future direction of Nvidia? Come and share it with everyone in the comment area.

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