In a move which should anger AMD fanboys everywhere, Goldman Sachs reiterated its buy rating on Nvidia and put the graphics chipmaker's stock on its conviction buy list.

Nvidia announced the GTX 1080Ti graphics card on Feburary 28 and said it will be available for $699 as of Friday.

Goldman Sachs analyst Toshiya Hari told clients that the "GTX 1080Ti launch highlights tough road ahead for AMD. We view this as incrementally positive for the company's [Nvidia] gaming business,".

He said he remain bullish on the fundamental outlook for the company, particularly as it continues to demonstrate its ability to execute and take advantage of its strong positioning."

Nvidia has been doing well since the launch of its new Pascal graphics chips. However, the stock is down 16 percent since the company's 9 February fourth-quarter earnings report.

Speaking to GTX 1080Ti launch Hari said that the GTX 1080Ti has potential to drive growth in the high end in the current quarter and going forward.

The lack of any new AMD products for the next one to three months, mean that Nvidia will benefit from what is likely significant pent up demand in the high end.