Nvidia (NASDAQ:NVDA) has faced challenges recently, with its stock down 14% year-to-date due to company-specific issues and macroeconomic concerns. However, Nvidia’s GTC 2025 event, scheduled for next week (March 17-21), could serve as a catalyst for a rebound. Historically, Nvidia shares have outperformed the SOX index by an average of 7 percentage points during GTC week and 2.4 percentage points in the following two weeks. Currently trading at a 35% discount to its three-year median forward P/E and EV/EBIT multiples, Nvidia may be poised for a comeback. Wells Fargo analyst Aaron Rakers maintains a positive outlook, recommending buying NVDA ahead of the event. Rakers rates NVDA shares as Overweight with a $185 price target, suggesting a potential 60% gain in the coming months. Key themes to watch include Co-Packaged Optics (CPO) integration into Nvidia’s product roadmap and updates on the next-gen Blackwell Ultra (GB300) GPUs. Additionally, Nvidia is expected to address the growing need for compute scaling as generative AI moves from development to deployment. Investors are also closely monitoring Nvidia’s Spectrum-X Ethernet strategy amid declining networking revenue. Overall, Nvidia retains strong analyst support with a Strong Buy consensus rating. — news from TipRanks
