Nvidia (NVDA) shares rallied another 5% this morning as CEO Jensen Huang is scheduled for a media briefing in Beijing on Wednesday, July 16.
Huang is visiting China amid renewed optimism that his company will soon be able to resume H20 chip sales in the largest Asian economy.
Including today’s gains, Nvidia stock is up more than 95% versus its year-to-date low set in April.
Why Huang’s China Visit May Be Positive for Nvidia Stock
Many investors believe Huang could announce new China-specific products or partnerships on July 16. Plus, the news that Nvidia will restart sales of its H20 chip to China, with the ability to resume deliveries coming “soon,” is lifting NVDA stock.
Note that China remains a crucial market for Nvidia. In fiscal 2025, the region generated some $17 billion in sales for the Nasdaq-listed firm – which made up roughly 13% of its overall revenue.
Oppenheimer Sees NVDA Shares Hitting $200
Nvidia stock is pushing significantly to the upside also because the AI chip firm has received reassurances from the U.S. government that “licenses will be granted” to help it resume deliveries to its Chinese customers in the coming weeks.
That made Oppenheimer analysts add NVDA shares to their list of “top picks” today. In its research note, the investment firm raised its price target on the AI stock as well to $200 – indicating potential upside of another 18% from current levels.
“We see several structural tailwinds driving sustained outsized topline growth including generative artificial intelligence, DC/AI accelerators, and autonomous vehicles,” its analysts told clients on Tuesday.
Wall Street Recommends Owning Nvidia for the Long Term
While Nvidia stock has already delivered exceptional returns over the past three month, Wall Street firms continue to recommend owning it for the long term.
According to Barchart, the consensus rating on NVDA shares remains at “Strong Buy” with the mean target of about $178 indicating potential upside some 5.0% from current levels.
