NVIDIA Corporation (NVDA) Price Target Raised as Analysts Reaffirm Buy Amid AI Market Growth

NVIDIA Corporation (NASDAQ:NVDA) is one of the best augmented reality stocks to buy right now. On November 25, Bank of America reiterated a positive outlook on NVIDIA Corporation (NASDAQ:NVDA) even as it faces stiff competition in the artificial intelligence chip market.

NVIDIA Corporation (NVDA) Price Target Raised as Analysts Reaffirm Buy Amid AI Market Growth

While Google’s growing presence in the AI chip markets with its Tensor Processing units has rattled the sector, Bank of America insists Nvidia is a Buy. The investment bank expects the semiconductor giant to achieve 40%+ sales and earnings-per-share growth while trading at approximately 25 times the market multiple.

Mizuho analysts shared similar sentiments. It noted that Nvidia remains a market leader with its Blackwell lineup through 2026 and is well-positioned to benefit from strong demand from cloud providers, enterprises, and government buyers.

NVIDIA (NASDAQ:NVDA) acts as an AR enabler, supplying AI processors, GPUs, and platforms that drive AR and VR experiences. Its Omniverse lets creators build 3D worlds for AR, while CloudRX streams AR and VR content wirelessly over Wi-Fi and 5G. NVIDIA also brings AR into automotive applications through its Drive technology and offers software like Maxine for face tracking and 3D reconstruction. Although its technology is central to modern AR systems, the company’s broader focus on data-center AI, gaming, automotive, and robotics means AR is only one part of its much larger business.

While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.