Nvidia (NVDA) Stands Out as Wall Street Reaffirms AI Leadership Ahead of Mega Cap Earnings

NVIDIA Corporation (NASDAQ:NVDA) is a Must-Watch AI Stock on Wall Street. On October 27, DA Davidson reiterated its “Buy” rating on the stock, maintaining its price target of $210.00 ahead of mega cap earnings week.

The firm believes that investors will be focused primarily on artificial intelligence (AI) compute demand growth during the upcoming earnings period. This growth, it believes, remains significant.

“Most of the focus during mega cap earnings week will remain on the growth of AI compute demand, which we believe is still significant. As typical, this will mostly impact the outlook of the one mega cap not reporting this week, NVDA (BUY-rated $210 target). We expect NVIDIA’s largest customers to continue their capex trajectory, which they are now enhancing with buildout by neoclouds such as NBIS (Buy-rated $125 target), ORCL (NEUTRAL-rated $300 target), and CRWV (UNDERPERFORM-rated $36 target).”

On the same day, Mizuho reiterated Nvidia and Broadcom as “Outperform,” stating that both stocks are “best positioned.”

“We believe NVDA and AVGO remain best-positioned with leadership in the AI Datacenter…”

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.

While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.