Boasting a market cap of $2.7 trillion, NVIDIA Corporation (NVDA) is a leading American technology company specializing in graphics processing units (GPUs), artificial intelligence (AI), and accelerated computing.

The analyst sees export restrictions of advanced AI chips causing a marginal shortfall to Nvidia's revenue and earnings in the near term, but the recent dip in the stock, which shaved more than $300 billion off Nvidia's market cap, more than accounts for the revenue loss.

Despite being one of the winners of the ongoing AI boom, Nvidia’s NVDA “prospects are well understood and largely priced into the stock,” Seaport analyst Jay Goldberg said in the note. The chipmaker’s stock is down 21% so far this year,