Wall Street firm BofA Securities has raised its price targets on leading technology companies Nvidia and Super Micro Computer ahead of Nvidia’s upcoming GTC conference for AI developers. The conference, set to kick off with a keynote presentation by Nvidia CEO, is expected to showcase the company’s extensive product pipeline across AI accelerators, data center hardware, software, and services.
Analysts at BofA Securities have increased the price target on Nvidia stock to $1,100 from $925, citing potential catalysts from the Nvidia GTC show. The company is expected to highlight the opportunity to re-architect global computing infrastructure with accelerators, creating a potential market opportunity of $250 billion to $500 billion over the next three to five years.
In addition, the price target on Super Micro Computer stock has been raised to $1,280 from $1,040 by the same analyst, highlighting the company’s position to benefit from the growing AI server market. Super Micro Computer has been gearing up to support strong demand and revenue growth, with industry sales of AI servers expected to grow from $39 billion in 2023 to $200 billion in 2027.
Super Micro Computer is also set to benefit from its close relationships with AI chipmakers including Nvidia, AMD, and Intel. Both Nvidia and Super Micro stocks have made multiple appearances on Investor’s Business Daily (IBD) lists, indicating strong potential for growth in the consumer technology and semiconductor sectors.
For more stories on consumer technology, software, and semiconductor stocks, follow Patrick Seitz on social media. Stay tuned for updates from the Nvidia GTC conference and the latest developments in the AI server market.
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