The valuation is expensive but the TAM expansion is accelerating, providing ample room to grow into multiples. The pivot towards higher-margin recurring Software increases value capture by up to two times, especially in Auto and Enterprise, even before factoring in Meta/Omni-verse business models, the analyst said.Ĭredit Suisse's 12-month price target of $400 would propel Nvidia into the $1 trillion club, potentially making it the first semiconductor company to do so, Pitzer said. 'We continue to argue NVDA has the largest TAM expansion opportunity not just in Semis but in all of Tech – NVDA enables AI/ML which in turn systematically reduces analytics costs, unlocking the >98% of data today that sits 'dark,' Pitzer said. The sequential revenue growth of 2.1%, however, is below seasonal, due to supply constraints. Nvidia is likely to guide fourth-quarter revenues and EPS, with the midpoint at $7.1 billion and $1.20, respectively, well above the consensus of $6.8 billion and $1.09, the analyst said. Related Link: Why This Nvidia Analyst Expects Strong Q3 Earnings, Outlook

Nvda target price raise