Nvidia Stock To Rally 20% After China Export License Agreement Report, Says Wells Fargo: Report

Wells Fargo analysts expect the China export license agreement and the strength of the U.S. imports of automated data processing (ADP) machines as two catalysts that could drive the 20% rally in the Nvidia stock.

Wells Fargo reportedly indicated that Nvidia Corp. (NVDA) is expected to rally another 20% after reports emerged that the AI bellwether has agreed to pay the U.S. government a 15% cut from the exports of artificial intelligence chips to China.

Wells Fargo analysts expect the China export license agreement and the strength of the U.S. imports of automated data processing (ADP) machines as two catalysts that could drive the 20% rally in the Nvidia stock, according to a CNBC report.

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