Shares of Nvidia were lower during mid-morning trading on Monday.
Canaccord analyst Matthew Ramsay noted that his bullish thesis is predicated on Nvidia's accelerated growth in graphics processing unit (GPU) computing. Nvidia's "emergence" in the race for GPUs has now "cemented" it as a dominant player in the space, Ramsay argued.
Additionally, he remains "very impressed" with the speed at which Nvidia has "segmented the product roadmap to provide more application-specific silicon to both the quickly evolving datacenter and automotive market."
Watch More with TheStreet:
- Sears' Kenmore Products on Amazon Is Hurting Home Depot, Jim Cramer Explains
- Consuelo Mack: There Are Many More Women Getting Into Financial Journalism
- Chipotle May Not Recover Until 2019 After Latest Health Scare
- 5 Celebrities That Have Lost Big in Real Estate
- O.J. Simpson Wasn't the First or the Last Athlete to Kiss a Major Endorsement Goodbye