Vivek Arya, Wall Street Analyst at Bank of America Corp (NYSE: Buck), maintained a bullish outlook for Nvidia Corp. (NASDAQ: NVDA), as investors wonder why Nvidia stock is down as of July 8.
Arya reiterated a buy rating on Nvidia stock on July 7 in a note to clients. He also set a 12-month price target for NVDA shares at $350, implying a potential upside of about 77.4%, with the company’s stock trading at about $197.30 at press time.
analyst Argue The recent decline in Nvidia stock is consistent with historical weak seasonal patterns. However, Arya expects the company’s stock market to rebound in the near term, supported by rising global demand for cloud amid the growth of AI infrastructure.
Specifically, Nvidia’s Bullish Ariya stock The outlook for 2026 and beyond is fueled by the continued tokenization of real-world assets (RWA) and the adoption of AI agents amidst supply-limited infrastructure. As such, the bank concluded that the company offers investors high-quality and durable growth.
The analyst emphasized Nvidia’s strong pricing power, noting that the expected $200,000 to $300,000 rise in high-bandwidth memory (HBM) costs per server rack with the Rubin platform transition could be offset by increases of $2 million to $3 million in full server sale prices..
Nvidia stock forecast 2026 and performance
Following Arya’s bullish forecast for NVDA stock for 2027 and beyond, 37 Wall Street analysts Surveyed by TipRanks Over the past three months, we have set an average 12-month price target of $309.93.
As a result, these analysts have indicated a strong buy for MVDA stock outlook for 2026. With NVDA shares trading at around $197.30 at press time, Wall Street analysts are forecasting an upside of approximately 56.8%.
Year-to-date, NVDA shares are up 4.47%, fueling bullish sentiment among Wall Street analysts.
