Stephanie Link and Josh Brown spoke on CNBC's "Fast Money Halftime Report" about two price target hikes for NVIDIA Corporation (NASDAQ:NVDA). Oppenheimer raised its price target for the stock to $600 and BMO raised it to $650.
Link said the analyst day on Monday was positive and management did a good job highlighting the opportunities in hardware and software. The differentiator at Nvidia is its software platform and platform's scale, thinks Link. She added that both of these things give it a competitive advantage and the Arm acquisition is only going to help strengthen it.
Link owns the stock and she likes the story, but she is a little uneasy with the 62 times forward estimate. She sees the stock as a secular growing business that she wants to own.
Josh Brown believes Nvidia is taking the market share and he sees it as an AI computing platform. Brown thinks the recent acquisitions are transforming for the company. Everything related to GPUs is flying because of the video game supercycle and all the new games are requiring better graphical processing, said Brown.
He owns the stock and he is planning to stay long. He doesn't think the stock is expensive. He has recently trimmed his position because it grew too big for the overall portfolio.