Josh Brown believes Nvidia is headed to $200 a share as investors focus on the "meat and potatoes" of the business. The chipmaker was down about 1% in midday trading Thursday after falling as much as 5% overnight —despite second-quarter earnings and revenue beating Wall Street analysts' estimates. Brown, CEO of Ritholtz Wealth Management, said on CNBC's " Halftime Report " he's not concerned about the immediate market reaction, despite the unusual move Thursday. "Recently, the pattern has been that the stock runs up into earnings," he said, noting that shares jumped about 20% from the start of the summer until Wednesday, before Nvidia's latest earnings report. "It's not a post-earnings reaction story. It used to be, but things change," Brown added. He called the lack of clarity around Nvidia's China business "noise." Nvidia was blocked by the Trump administration in April from selling its H20 chip in China. The deal that CEO Jensen Huang recently struck with President Donald Trump to restart those sales has yet to be finalized. "The meat and potatoes here — the actual signal, the thing that matters: The CFO came on and talked about $3 to 4 trillion in A.I. infrastructure spend between now and the end of the decade," Brown said. Nvidia finance chief Colette Kress revealed that figure on the earnings call after the market closed Wednesday. "I think it wants $200," Brown said of the stock's potential. "I think it will get it." DISCLOSURES: All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
