This is the next catalyst that could push Nvidia stock up to 27% higher by January, according to Citi

Experts at Citi put Nvidia on “favorable driver watch” for the next 90 days in a current note.

The company stated shares of the chip giant might rise as much as 27% to its $175 cost target heading into early 2025, as creator and CEO Jensen Huang gets ready for his huge keynote speech at CES 2025.

The Customer Electronic devices Program will be held from January 7 to January 10, with Huang set to provide the opening keynote on January 6 at 6:30 p.m.

The address will be followed by a concern and response session for monetary experts on January 7, Citi stated.

” We … open a favorable driver watch into CES Jan where we anticipate Blackwell sales expectations to move greater and management to speak about the reasoning led business and robotics commercial need inflection,” Citi expert Atif Malik stated.

At the CES occasion, Nvidia will likely even more increase its Blackwell item sales expectations as it increases production of the next-generation AI chip, according to Malik.

In addition, Malik anticipates Nvidia management to inform experts that its revenue margin will likely bottom throughout their April quarter and move higher from there, along with speak about an “reasoning led inflection” in AI robotics for usage cases in storage facilities, production, and even humanoid robotics.

Business consisting of Tesla, Figure.AI, and Boston Characteristics have actually been racing to establish humanoid robotics in the last few years, and Nvidia’s GPU chips have actually taken spotlight in those gadgets.

At Nvidia’s yearly GTC conference in March 2024, Huang invited 9 various humanoid robotics to the phase that were partially powered by Nvidia’s chips.

Citi rates Nvidia shares at a “Buy” and increased its cost target to $175 from $170 after the business’s third-quarter incomes release recently.

Shares of Nvidia have actually risen 176% year-to-date amidst the craze for the business’s AI-enabling GPU chips.