Key Points
Analysts at Piper Sandler have initiated coverage of several AI semiconductor stocks, including Nvidia, Broadcom, Arm Holdings, Advanced Micro Devices (AMD), and Marvell Technology, all receiving “overweight” ratings. They project up to 37% upside for Nvidia, with a target price of $300, citing its 80% market share in AI compute.
Piper forecasts that the AI compute market could grow fivefold, reaching $2.2 trillion by 2030, of which approximately $2 trillion will be dedicated to AI chips. Currently, demand is outstripping supply for these chips, with some prices, like that of Nvidia’s H100 GPUs, rising by 30% since December 2022, to $2.60 per hour.
For Broadcom, the analysts set a target of $460, implying 27% upside, while AMD is targeted at $600, representing a 19% increase. Marvell Technology has a target set at $270, showing a projected 19% increase from its recent closing price.
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