The leaderboard of the semiconductor world remains firmly under one company’s control as Wall Street’s top analysts double down on the king of AI. On Friday, Bernstein analysts, led by David Dai, kept a “Buy” rating on Nvidia (NVDA) with a price target of $300, a move that saw Nvidia’s stock tick up 0.5% in early trading. While competitors are working to catch up to today’s technology, Nvidia is already moving ahead with its next hardware launch.
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Trade NVDA with leverageIn today’s note, Dai highlighted the upcoming Vera Rubin platform, which is scheduled to begin shipping in the second half of 2026. Bernstein described the platform as “a monster” that will deliver “5x more inference performance and 3.5x more training performance” than current models.
These gains are particularly impressive because they were achieved with only 1.6x more transistors, showing that the company’s design strategy is working. The report stated that these new offerings “ought to cement” the company’s position in the tough and competitive world of AI, creating a massive competitive gap that rivals like AMD (AMD) and Intel (INTC) are struggling to cross.
Nvidia’s “Valuation Appears Very Attractive” amid $12 Earnings Path
Despite the stock’s recent run, the financial data suggests that the AI leader is actually cheaper than many of its slower-growing peers.
Bernstein pointed out that the stock currently trades at a PEG ratio of 0.77, a figure that shows the share price has not yet fully caught up to the company’s explosive profit growth. The report noted that “valuation appears very attractive” as the company moves toward a $12-plus calendar year 2027 earnings estimate, which the firm now views as “very plausible.” David Dai’s analysis shows that the company is trading at approximately 15 times its projected 2027 earnings, well below the sector average of 20. This suggests that even at current prices, investors are getting a top-tier performer at a relative discount.
Demand Shows “Zero Signs of Slowing” as Nvidia’s Backlog Hits $500 Billion
The biggest worry for many investors is whether the AI boom has already peaked, but the data coming from the supply chain tells a very different story.
The Bernstein report stated unequivocally that “demand shows zero signs of slowing,” suggesting that a peak in the market is not coming soon. The firm highlighted that management has already seen orders extending into calendar year 2027, backed by big supply commitments from major cloud players. Specifically, the report mentioned that the “~ $500B implied in the new CY27 forecast already exceeds consensus ~$438B.”
With the strong GB300 ramp leading into the Rubin launch, Bernstein expects 2026 to be a “very good year” for the company. The note concluded that “it is still Nvidia’s game to lose, and they don’t appear to be losing.”
Is Nvidia Currently a Strong Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Nvidia stock (NVDA) based on 41 Buys, one Hold, and one Sell rating assigned in the past three months. Furthermore, the average 12-month NVDA price target of $273.57 per share implies 37.9% upside potential.
