Nvidia stock rises over 2% in morning trading as Evercore ISI initiates Nvidia as outperform.
Evercore said Nvidia is an “ecosystem play, not a semiconductor company.”
“We think investors underestimate 1) the importance of the chip+hardware+software ecosystem that NVDA has created, 2) that computing eras last 15-20 years and are typically dominated by a single vertically integrated ecosystem company, whose returns are measured in 100-to-1000 bagger range.”
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