Key Takeaways
- Wells Fargo expresses optimism for NVDA before GTC 2026, referencing historical data showing 3-month outperformance versus the SOX index ranging from +12% to +45%
- Bank of America maintains its Buy recommendation with a $300 price target, highlighting NVDA’s valuation at approximately 17x forward PE — a historical low point
- The chipmaker is anticipated to showcase its next-generation co-packaged optic switch along with developments in its Feynman GPU architecture and Kyber NVL576 systems
- The rise of agentic AI is creating renewed demand for CPUs — Nvidia’s Vera CPU has entered production and is operating in Meta facilities, with broader deployment scheduled for 2027
- A developing supply shortage is affecting the CPU sector, with AMD and Intel reporting extended lead times of up to six months and price increases exceeding 10%
Nvidia (NVDA) is approaching its yearly GTC conference scheduled for next week, and market analysts are paying close attention. The gathering, taking place March 16–19 in San Jose, California, has the potential to serve as a significant catalyst for the semiconductor giant’s shares — and possibly the wider chip industry.
NVIDIA Corporation, NVDA
Analysts at Wells Fargo, under the leadership of Aaron Rakers, stated they are “NVDA buyers ahead of the event.” The investment bank highlighted a trend of robust equity performance during the three-month period following previous GTC gatherings, with NVDA beating the SOX semiconductor index by approximately 30% on average, spanning a range from +12% to +45%.
Vivek Arya, analyst at Bank of America, also confirmed a Buy rating alongside a $300 price target. He observed that the stock is presently valued at roughly 17x forward earnings — approaching a historical floor — after a successful Blackwell product launch that reportedly delivered an estimated $500 billion in aggregate revenue.
CEO Jensen Huang is scheduled to present a keynote speech at 2 p.m. ET on Monday. He will additionally lead an industry discussion panel on Wednesday afternoon. Major technology firms participating in main stage presentations include OpenAI, Google DeepMind, Meta, Microsoft, and Tesla.
Regarding product announcements, Nvidia is anticipated to introduce its second-generation co-packaged optic switch, incorporating Taiwan Semiconductor’s co-packaged optic capabilities. Mass production is not projected to scale until 2027, targeting approximately 80,000 units. The corporation may also share progress on its Feynman GPU architecture and the Kyber NVL576 rack configuration.
Wells Fargo anticipates Nvidia will revise its pipeline projections, potentially increasing its cumulative revenue forecast from $500 billion to beyond $600 billion through 2026. Rakers also questioned whether Nvidia will adjust its projection of $3–$4 trillion annually in worldwide AI infrastructure investment by 2030.
CPU Technology Takes Priority
Beyond graphics processing units, a more subtle transformation is occurring. Agentic AI — workflow-oriented artificial intelligence that coordinates tasks across numerous agents — demands a distinct computing architecture compared to conventional AI inference. This trend is elevating demand for central processing units to unprecedented recent levels.
Thousands of independent Nvidia CPUs are currently functioning at the Texas Advanced Computing Center and Los Alamos National Lab. Bank of America forecasts the CPU sector could more than double in size, expanding from $27 billion in 2025 to $60 billion by 2030.
At GTC, Nvidia is anticipated to display a CPU-exclusive rack on the exhibition floor — an indication of the company’s commitment to standalone CPU configurations.
Supply Constraints Intensify
The wider CPU marketplace is experiencing pressure. AMD and Intel have both alerted customers about supply limitations, with procurement lead times extending as long as six months and pricing climbing more than 10%, based on Reuters reporting.
Forrest Norrod, AMD’s head of data center, told CNBC that demand surges during the past six to nine months have been “unprecedented.” Intel indicated inventory levels are projected to reach their nadir this quarter, though the company anticipates supply conditions will improve throughout Q2 2026.
Presently, Nvidia reports it has not experienced substantial CPU shipment interruptions. Harris explained the company’s supply chain has successfully accommodated demand, partially because the majority of its CPUs are delivered together with GPUs in complete rack-scale configurations.
Mercury Research calculates Nvidia commanded a 6.2% portion of the server CPU market in Q4 2025, trailing Intel at 60% and AMD at 24.3%. Additional stocks that may react to GTC revelations include AMD, Taiwan Semiconductor, Broadcom (AVGO), Intel, and Marvell (MRVL).
The post Nvidia (NVDA) Stock: Major Banks Turn Bullish Before GTC 2026 Conference appeared first on Blockonomi.
Source: https://blockonomi.com/nvidia-nvda-stock-major-banks-turn-bullish-before-gtc-2026-conference/
