Nvidia Keeps Its AI Momentum Amid Industry Hurdles
Cantor Fitzgerald reiterated its Overweight rating and $350 price target on Nvidia Corp. (no ticker given), citing strong demand for artificial intelligence infrastructure. The firm's analyst, C.J. Muse, noted that debates continue around the durability of the AI cycle versus macroeconomic and debt headwinds.
Nvidia is TSMC's largest customer, and Cantor Fitzgerald highlighted its attractive valuation among compute names on calendar year 2028 earnings estimates. The company trades at a P/E ratio of 29.1 with a PEG ratio of 0.23, suggesting strong value relative to growth prospects.
The firm also commented on Nvidia's high-bandwidth memory specifications, characterizing HBM de-specification as an economic decision focused on optimizing gross margins and GPU sales for a finite number of bits.