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Nvidia stock 'undervalued' compared to Big Tech peers: BofA

Chip giant Nvidia (NVDA), despite reaching an all-time high for its stock price earlier this week, is still "undervalued" against its Big Tech peers, according to Bank of America analyst Vivek Arya. BofA's analyst team raised its price target on Nvidia from $165 to $190 per share, Arya citing Nvidia's position at the forefront of the "generational opportunity" that lies ahead. This upward revision comes as Nvidia prepares to release its third quarter earnings results on November 19, 2024. Yahoo Finance anchor Julie Hyman breaks compares Nvidia's PEG ratio (price/earnings-to-growth) to that of other Magnificent Seven tech names and Broadcom (AVGO) in today's Chart of the Day. Watch Bank of America's Vivek Arya talk more about his stock call on Nvidia with Yahoo Finance executive editor Brian Sozzi on this morning's Opening Bid. #youtube #stockmarket #news About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. Get the latest news and data at finance.yahoo.com Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) Follow Yahoo Finance on social: X:   / yahoofinance   Instagram: https://www.instagram.com/yahoofinanc... TikTok: https://www.tiktok.com/@yahoofinance?... Facebook:   / yahoofinance   LinkedIn:   / yahoo-finance