NVIDIA Corporation (NVDA.US) delivered solid results growth, driven by growth in its core data center business, Goldman Sachs released a research report saying.
1FQ24 data center compute revenue was US$19.4 billion, up 29% QoQ and 4.78x YoY. Networking revenue amounted to US$3.2 billion, down 5% QoQ and up 2.42x YoY.
Goldman Sachs expected management to focus on commenting in recent data center revenue, reasons for the sequential decline in networking revenue, etc., at the results conference. Goldman Sachs rated the stock at Buy, and it is on the Conviction List, with a target price of US$1,100.
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