Nvidia selloff on Blackwell bumps offers enhanced buying opportunity, says BofA

BofA notes media reports that indicate delays in the launch of Nvidia’s (NVDA) next-gen Blackwell GPU, though the firm also notes that Blackwell is not in estimates until fiscal Q4 and that Nvidia only reports and guides one quarter at a time. If needed, Nvidia can extend the lifecycle of its current-gen Hopper, while launching less complex Blackwell versions as a stopgap, but any pushouts could further pressure Nvidia’s stock amid ongoing market uncertainty around rates and geopolitics, says the analyst. However, the firm views any selloff as an enhanced buying opportunity as challenges are not in demand, but in “solvable” supply issues that will not fundamentally derail Nvidia’s longer-term momentum, the analyst added in a preview note. BofA maintains a Buy rating and $150 price target on what it calls its top sector pick ahead of Nvidia’s fiscal Q2 results due on August 28.