KeyBanc analyst John Vinh is growing more optimistic about semiconductor stocks on strong data center demand and tighter memory supply. The five-star analyst raised estimates and price targets for several companies, including AMD (AMD), Nvidia (NVDA), Marvell (MRVL), Micron (MU), and ARM (ARM).
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High conviction NVDA bears now have this Tradr ETFHe said data center demand is still the main driver behind the chip upcycle, which is lifting PCs, smartphones, analog chips, and memory markets. Lead times for many analog parts have stretched from 12-16 weeks to around 24 weeks, with some products now taking up to six months. Further, memory markets remain extremely tight, with DRAM and NAND prices rising sharply and high‑bandwidth memory (HBM) pricing expected to reset much higher in 2027.
It is worth noting that Vinh ranks 68 out of more than 12,300 analysts tracked by TipRanks. He has an overall success rate of 64%, with an average return per rating of 32.5% over a one-year timeframe.
AMD: Strong AI GPU Ramp and More Capacity
Vinh remains positive on AMD, raising his price target to $725 from $530. He sees the company benefiting from more server CPU capacity and a clean ramp for MI455 and Helios GPUs in later 2026. Also, AI GPU revenue is expected to reach $16.8 billion in 2026 and $48.5 billion in 2027.
Nvidia: Demand Still Strong Despite Rubin Delays
The analyst lifted Nvidia price target to $330 from $310, noting mostly positive takeaways. He expects no major impact on estimates from slight delays in the Vera Rubin GPU ramp due to thermal issues and HBM4 qualification.
Nvidia is expected to ship 5.5 million-6 million Blackwell GPUs this year and 1.7 million-1.8 million Rubin GPUs. Also, he sees strong rack demand, with 70,000-80,000 total racks expected to ship in 2026.
Marvell: Major Wins in AI Networking
Vinh raised his Marvell price target to $400 from $385, citing a strong ramp for Trainium 3 in the second half of 2026 and expected share in Trainium 4 variants. Also, a major design win for Google’s (GOOGL) LPU is expected to generate $10 billion-$12 billion in revenue across 2028-29.
The analyst sees Marvell as one of the biggest long‑term beneficiaries of AI networking growth.
Micron: Memory Pricing Surges
Micron received one of the most bullish updates as the Top analyst raised MU price target to $1,750 from $1,600. Key drivers are a 15-20% expected sequential price increase in DRAM, and a 30-40% rise in NAND prices in the third quarter. HBM prices are likely to reset higher by about 100-150% year over year in Q1 2027, which would lift margins.
The analyst projects tight supply through 2027, with suppliers shifting bits toward higher‑margin data center applications. Since Micron and Samsung (SSNLF) are already fully cleared for HBM4, they are well‑placed for the next wave of AI systems.
ARM: Mixed Near Term, Strong Long-Term AI Upside
ARM’s price target was raised to $430 from $300. Vinh believes AI server CPU demand is accelerating, driven by Nvidia’s Vera, AWS’ Graviton, and Google’s Axion. Also, the analyst thinks the company’s move into building server CPU silicon could lead a path to $25 billion in revenue and $9 EPS by FY31. However, he noted smartphone demand remains soft due to memory shortages.
While near‑term trends are mixed, the analyst sees ARM’s long‑term AI opportunity as “much more meaningful.”
What Are the Best AI Stocks to Buy Now?
Using TipRanks’ Stock Comparison Tool, we compared AMD, NVDA, MRVL, MU, and ARM stocks to see which AI stock Wall Street currently favors. Of the five stocks, all carry a Strong Buy consensus rating on TipRanks, except ARM. In terms of upside, analysts see the most potential in Micron’s stock.
