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Despite fresh regulatory concerns, Nvidia (NASDAQ: NVDA) jumped nearly 2% on Wednesday as analysts lifted their price targets, reinforcing bullish sentiment, with Wedbush reiterating their $230 price target.
On Tuesday, concerns were mounting for the AI chipamer following news that Meta (NASDAQ: META) was considering using Google’s Tensor Processing Units in 2027. Today, the pressure rose after Chinese regulators reportedly banned ByteDance, the company most known as the owner of TikTok, from using Nvidia’s chips in its data centers.
Nonetheless, the California-based tech leader’s stock is nearly 2% in the green at the time of writing, trading at $180.9, supported by analyst confidence that the company is still the undisputed leader in the sector.
Analysts raise Nvidia stock price target despite regulatory concerns
Wedbush analyst Dan Ives noted on Wednesday that Nvidia remains the foundation of the sector, arguing that CEO Jensen Huang is “the godfather of AI.”
Furthermore, the analyst noted that while Google’s (NASDAQ: GOOGL) in-house hardware and partnerships with Broadcom (NASDAQ: AVGO) are gaining meaningful traction, the firm stresses that the AI boom “starts and ends with Nvidia,” hinting at long-term optimism.
“With trillions set to be spent over the coming years many Big Tech players such as Google/Broadcom on TPU chip front will benefit besides Nvidia on the chip front…that should not be mistaken for Nvidia being the indisputable Rocky Balboa champion of the AI Revolution,” Ives further wrote on X.
Also notable is that even the most bearish predictions, those that see the stock trading at $200 within the next year, also suggest an upside. Moreover, with 39 “Buys,” one “Hold,” and one “Sell,” analysts bullish on Nvidia have overwhelmingly dubbed the stock a “Strong Buy.”
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