Wall Street Stays Bullish on Nvidia With $350 Price Target

Wall Street favorite Nvidia continues to turn heads as investment firm Cantor Fitzgerald keeps its bullish stance on the artificial intelligence chipmaker. The firm reaffirmed its overweight rating and kept a price target of $350. With the stock trading around $277, this target points to an upside of nearly 27 percent.

Analyst C.J. Muse pointed to ongoing strength in artificial intelligence infrastructure spending to justify the upbeat outlook. Despite worries about broader economic conditions and supply chain issues, demand for these specialized chips remains strong. Cantor Fitzgerald also brushed off concerns about memory strategies, noting that the company focuses on optimizing margins and sales rather than facing weaker demand.

This positive outlook arrives as traders debate whether the artificial intelligence boom can maintain its current speed. Nvidia recently posted quarterly revenue above $96 billion, marking a massive year over year increase. Management also issued strong guidance for the upcoming quarter.

While the $350 target sits above the general Wall Street consensus, it fits comfortably within broader forecasts. Data shows that analysts covering the stock maintain strong buy recommendations with an average 12 month target of around $325. Market participants will watch upcoming earnings reports to see if hardware demand can sustain this growth.