Nvidia Stock Soars as Analyst Raises Price Target to $350

Nvidia achieved a historic milestone last week by becoming the first company to reach a $5 trillion market value. Now, momentum continues as Loop Capital Markets raised its price target for the AI chipmaker to $350, up from $250—signaling more than 70% upside potential.

The Golden Wave of AI Adoption

Loop Capital analyst Ananda Baruah justified the aggressive upgrade, stating that the tech industry is entering a “Golden Wave” of AI adoption with Nvidia leading demand acceleration. The new target implies a market capitalization of $8.5 trillion if achieved, well above the current Wall Street average target of $231 per share. This move positions Nvidia to potentially add another $3 trillion to its valuation.

Strong Business Fundamentals Support Growth

Nvidia’s expanding product pipeline strengthens the bullish case. The company is increasing production of its Blackwell AI chips, expected to double shipments within 12-15 months. Additionally, Nvidia has raised AI chip prices by 10-15% this year and secured $500 billion in AI chip orders through 2026, according to CEO Jensen Huang.

Other major analysts are similarly optimistic. Rosenblatt Securities raised its Nvidia target from $215 to $240, citing the company’s expanding AI platform beyond hyperscale data centers. Nvidia reports earnings on November 19, with the company’s stock already up over 55% year-to-date.

However, investors should note concentration risk: two mystery customers accounted for 39% of Nvidia’s July quarter revenue, raising questions about dependency on a few major tech firms.