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Why Nvidia Stock Popped, Then Dropped on Wednesday

Shares of Nvidia (NASDAQ: NVDA) had a bit of a tailwind to start Wednesday, jumping as much as 3.3%. Bank of America analyst Vivek Arya painted a compelling picture for Nvidia’s future prospects, reminding investors there’s still robust demand for the company’s graphics processing units (GPUs), as plenty of gamers have yet to adopt the latest version of its high-end processors. The analyst noted that the graphics chip market is “still early in [the] upgrade cycle,” which could result in stronger demand in the second half of 2022 as supply chain issues abate and the mix of processors improves.

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