By Sam Boughedda
Investing.com — Nvidia Corporation (NASDAQ:NVDA) shares rose just under 1% Thursday after BofA analyst Vivek Arya called it a top computer pick.
The analyst reiterated a buy rating and $375 price target on the stock after hosting an investor call with Nvidia's CFO Colette Kress.
In a research note, Arya stated that he heard confidence around momentum for 2022 in gaming, data center and multi-platform opportunities.
He added that the company is "best-positioned to address several of the most important, multi-decade secular growth opportunities with its unique, highly-leverageable accelerated compute platform."
"Capacity remains a bottleneck, with demand outpacing supply throughout 2021 (especially in gaming), though management noted they are working hard on securing supply and they expect constraints to ease in 2H 2022," Arya added.
The analyst said the company is a top compute pick, and even without the potential Arm acquisition, it "can achieve similar ends at a much lower price without Arm."