NVIDIA Breaks Out with 6.26% Rally as Goldman Holds $285 Target
NVDA•On June 1, NVIDIA shares jumped 6.26% on heavy volume of about 213 million shares after breaking out of a multi-week falling channel. Goldman Sachs reaffirmed its Buy rating and $285 price target after the GTC Taipei keynote, citing AI PC partnerships, datacenter dominance and the Vera Rubin platform.
1. Stock Breaks Out of Falling Channel
On June 1, NVIDIA shares surged 6.26% to close above $224, breaking out of the falling channel that had limited its price trajectory for weeks. Trading volume reached approximately 213 million shares, matching late-April levels and confirming the bullish momentum.
2. Goldman Sachs Reaffirms Bullish Thesis
Goldman Sachs maintained its Buy rating and $285 price target following NVIDIA’s GTC Taipei keynote, citing the company’s expansion into AI PCs with Microsoft, leadership in datacenter computing and progress on the Vera Rubin next-generation AI chip platform.
3. Divergent Technical Signals
While the breakout completes a bull-flag pattern—after a 44% rally from $164 to $236—one key flow gauge signals potential caution, leaving investors divided on whether NVIDIA can sustain its upward trajectory through June.
