Nvidia (NVDA) stock reached a major milestone on October 29, becoming the first company in history to cross a $5 trillion market valuation. The gain came after its GTC event in Washington, D.C., where CEO Jensen Huang announced over $500 billion in orders for the company’s new Blackwell and Rubin AI chips, along with several major partnership updates.
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Several top analysts, including those from Wolfe Research and Cantor Fitzgerald, turned more bullish on the stock, saying the massive order points to stronger long-term demand and earnings potential than Wall Street currently expects.
Wolfe Research Sees Big Upside Potential
Wolfe Research analyst Chris Caso reiterated an Outperform rating on Nvidia (NVDA) with a $230 price target, noting that the company’s latest disclosure of $500 billion in expected chip orders points to “significant upside compared with current Wall Street forecasts.”
The 5-star analyst estimates Nvidia may ship $500 billion worth of Blackwell and Rubin chips in calendar years 2025 and 2026, compared to his current forecast of about $360 billion for the same period. That difference could add roughly $140 billion in data center revenue and around $3 per share of additional EPS in 2026 if Nvidia’s outlook holds true.
The analyst noted that even a conservative interpretation of Huang’s remarks points to meaningful growth beyond Wall Street’s current models.
Cantor Fitzgerald Calls Estimates “Way Too Low”
Cantor Fitzgerald analyst C J Muse kept his Overweight rating and $300 price target on Nvidia, arguing that Wall Street’s current earnings estimates remain “way too low.” The 5-star analyst noted that Nvidia’s $500 billion in chip orders, along with new AI and supercomputer deals, point to much stronger growth than analysts now expect.
Cantor said that with over $500 billion in chip business booked through 2026, Nvidia’s earnings potential remains underappreciated. The firm added that, even with talk of an “AI bubble,” Nvidia still trades at roughly 21 times its projected 2026 EPS of $9–$10, calling the stock “too inexpensive to ignore.”
Is NVDA a Good Stock to Buy Now?
Analysts remain highly optimistic about Nvidia’s long-term outlook. On TipRanks, NVDA stock has a Strong Buy consensus rating based on 34 Buys, two Holds, and one Sell rating. The average Nvidia price target of $230.22 implies nearly 11.2% upside potential from current levels. Year-to-date, NVDA stock has gained nearly 54%.
