Raymond James Sees 'Fundamentally Illogical' Discount in Nvidia Stock

Nvidia's stock is set to break its seven-day losing streak after Raymond James raised its price target on the chipmaker to $352 from $330, citing a 'fundamentally illogical' valuation discount to the broader market.

The firm expects Nvidia's CPU revenue to grow from about 3% of sales today to roughly 5% by 2028, with CPUs becoming one of the company's fastest-growing businesses and potentially positioning it as the world's largest CPU revenue generator.

Nvidia is also expanding its AI infrastructure partnership with Cisco through a new deal with Supermicro, adding high-density liquid- and air-cooled server systems to its portfolio.