Bull: Nvidia’s numbers speak for themselves; it’ll be a $4 trillion company

Traders were uncertain over what to make of Nvidia’s fourth-quarter results, with the stock careening between gains and losses during after-hours trading on Wednesday.

But for Wedbush analyst Dan Ives, the results are conclusive.

“We believe the recovery in tech stocks now begins as the Street digests a robust backdrop for AI demand as the correction in many of these top tech names we view as a major buying opportunity,” he wrote. “Last night was a seminal day for the tech sector and we believe the bulls will digest these Nvidia results in a bullish manner as the results/guidance speak for themselves in our view. We continue to believe Nvidia is a $4 trillion market cap in 2025.”

His price target on the stock is $175.

As of 7:50 a.m. ET, shares are trading near their post-earnings highs, up about 3%.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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