NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) shares still offer latecoming investors opportunities, Citigroup suggested, with several possible catalysts in coming months.
After hitting an all-time high above $973 early last month, the shares have broadly flatlined, skidding to $881 at the end of last week.
Citi analysts opened a 90-day "positive catalyst watch" on Nvidia shares on Monday after they fell roughly 7% from their peak.
Recent selling has been "profit taking", the analysts said, as research among supply chain firms suggested there remained good visibility on demand out to the first half of next year.
Semiconductor foundry and other suppliers are expected to back this up in their earnings commentary in coming weeks, as one source of positive catalysts, with the Computex Taiwan expo on 2 June will see Nvidia CEO Jensen Huang deliver a keynote speech.
Both "could be positive catalysts for the stock," the analysts said.