Finance

Bank of America resets Nvidia stock forecast after meeting with CFO

Published

3 weeks ago

June 6, 2026

Press Room

Bank of America resets Nvidia stock forecast after meeting with CFO

Nvidia (NVDA) stock has clearly been on every investor’s radar over the past three years.

However, the market’s now moved beyond the usual demand discussions and is now fixated on its tremendous runway.

That changes the dynamic in a big way and will shape the stock’s long-term trajectory, especially since it leaves little room for disappointment.

For context, if you’d invested $10,000 in Nvidia stock and left it for three years, you’d be sitting at a jaw-dropping $52,300.

Nevertheless, a ton of future growth is already priced into the stock, and investors buying Nvidia today are paying roughly 35 times forward non-GAAP earnings, according to Seeking Alpha.

Bank of America analysts just had a fresh read on that opportunity after hosting Nvidia CFO Colette Kress at its Global Technology Conference.

Moreover, Nvidia investor-relations executive Stewart Stecker gave analysts a look at how the tech giant is thinking about demand, supply, and the next product cycle.

For perspective, in one of his recent posts, TheStreet’s resident tech expert and reporter Vuk Zdinjak broke down the AI giant’s biggest announcements from the GTC Taipei event.

During the event, Nvidia confirmed that its new Vera Rubin AI platform has entered full production, backed by hundreds of partners helping ramp up manufacturing across the globe.

Additionally, the RTX Spark was introduced, a new superchip built for Windows PCs, that can efficiently run AI agents and the latest AI models locally.

BofA analysts now view Nvidia as more than just a leader in GPUs.

They paint a picture of a uniquely diversified company, powered by a full-stack approach that continues to widen its competitive edge as AI use cases evolve

Moreover, after sitting down with management, BofA analysts believe the growth runway is expanding.

That compelled the firm to effectively reset its expectations on the stock.

Bank of America reaffirmed Nvidia after management discussions highlighted expanding AI infrastructure opportunities aheadI-HWA CHENG / Getty Images

Wall Street price targets for Nvidia stock

Morgan Stanley set a $288 price target on Nvidia stock. .
Bank of America set a $350 price target on Nvidia stock. .
UBS set a $280 price target on Nvidia stock. .
JPMorgan set a $280 price target on Nvidia stock. .
Goldman Sachs set a $285 price target on Nvidia stock. .
Cantor Fitzgerald set a $350 price target on Nvidia stock.
Source: MarketBeat.

Bank of America sees Nvidia’s AI runway getting even wider

As mentioned earlier, BofA analysts feel Nvidia is far from being just a GPU story.

More Nvidia:

In fact, they argue that the tech giant has spread its tentacles into CPUs, AI systems, software, networking, and several other areas.

Consequently, Nvidia’s content per gigawatt is likely to rise sharply with every product generation, from $40 billion per GW for Blackwell to $60 billion to $80 billion per GW for Vera Rubin and Rubin Ultra, and potentially $100 billion per GW with Feynman.

The reset rests on three big takeaways:

CPU opportunity is expanding: Nvidia expects $20billion in Vera CPU sales in the back-half of fiscal 2027, split evenly between head-node sockets and standalone agentic AI sockets.
AI system value is rising: Vera Rubin includes 7 chips across 5 racks, compared to Blackwell’s main compute rack.
Demand visibility looks strong: Nvidia’s $124 billion purchase commitment underscores robust demand and supply visibility ahead.

Additionally, BofA analysts describe Nvidia as being the “king of diversity,” noting its sales mix is split evenly between hyperscalers and ACIE (AI Clouds, Industrial, and Enterprise).

The ACIE segment is forecasted to grow even faster over time, backing up the view that Nvidia’s moat is broadening.

Moreover, BofA analysts reiterated their Buy rating on the stock, with a $350 price target, based on 26 times calendar 2027 estimated earnings, excluding cash.

That multiple sits well within Nvidia’s historical 25x to 56x forward-year price-earnings range.

At around $205, the target points to a whopping 71% upside, a bold call to say the least for a business valued near $4.97 trillion.

If Nvidia rises to $350 per share, its market cap could approach $8.5 trillion, assuming its share count remains largely unchanged, an insane level no other company has ever achieved.

Bank of America analysts flag Nvidia downside risks

BofA analysts flagged Nvidia’s legacy consumer-driven gaming segment as a laggard.
They pointed to growing competition from the top public companies, internal cloud projects, along with private AI firms involved in accelerated computing.
China is another thorn in its side, with export-related restrictions potentially weighing more heavily than expected.
Analysts pointed to concerns over Nvidia’s newer enterprise, data center, and auto markets producing lumpier, unpredictable revenue.

Nvidia stock returns vs. the S&P 500

Over the past month, Nvidia stock returned 4.38%, compared with 1.71% for the S&P 500.
Over the past six months, Nvidia stock returned 12.44%, compared with 7.47% for the S&P 500.
Year to date, Nvidia stock returned 9.97%, compared with 7.86% for the S&P 500.
Over the past year, Nvidia stock returned 46.51%, compared with 24.32% for the S&P 500.
Over the past three years, Nvidia stock returned 423.60%, compared with 72.77% for the S&P 500.
Over the past five years, Nvidia stock returned 1,066.78%, compared with 74.56% for the S&P 500.
Source: Seeking Alpha.

Related: Morgan Stanley resets Nvidia stock forecast after key event

This story was originally published by TheStreet on Jun 6, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

Related Topics:Bank of America Nvidia price target Vera Rubin

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Finance

Hong Kong vows stronger exchange with reforms, bond futures and gold push

Published

4 hours ago

June 26, 2026

Press Room

Hong Kong vows stronger exchange with reforms, bond futures and gold push

Hong Kong is pressing ahead with an overhaul of listing rules and the launch of new product initiatives, the city’s deputy finance chief said on Friday as the bourse operator marked 26 years as a publicly traded company.

Speaking at the anniversary ceremony of Hong Kong Exchanges and Clearing (HKEX), Deputy Financial Secretary Michael Wong Wai-lun outlined reforms under review, including optimising weighted voting rights, easing secondary listings by overseas issuers, and expanding flexibility for biotech and specialist technology companies.

“We will continue to work tirelessly and proactively to make Hong Kong even better and stronger as a leading international financial centre,” Wong said.

The consultation period closed last month, and HKEX was now reviewing feedback before finalising the measures, he added.

Wong also welcomed the forthcoming launch of five-year mainland Chinese government bond futures, saying the contract would provide efficient risk-management tools and reinforce Hong Kong’s role as the world’s leading offshore renminbi hub.

He said Hong Kong was building a commodities ecosystem, using gold as a strategic entry point, with plans for expanded storage and refinery capacity and the reactivation of a US dollar gold futures contract.

Finance

S&P Global improves outlook on city of Houston’s finances | Houston Public Media

Published

14 hours ago

June 26, 2026

Press Room

S&P Global improves outlook on city of Houston’s finances | Houston Public Media

Dominic Anthony Walsh / Houston Public Media

Houston Mayor John Whitmire speaks about his proposed budget on May 5, 2026.

One of the “Big Three” credit ratings agencies improved its outlook on the city of Houston’s financial position on Thursday, two weeks after city officials approved major reforms to the city’s revenue flow.

In a news release announcing the “stable” outlook, the agency said the city “made substantial progress in materially reducing its budget gap … through various structural changes.”

S&P Global lowered the city’s outlook in 2024 amid rising public safety costs tied to the more than $1 billion blockbuster settlement with the firefighters’ union, which included immediate backpay and hiked salaries by more than 30% over the five-year agreement. The “negative” outlook signaled the possibility of a credit downgrade, which would raise the city’s borrowing costs.

This year, Houston Mayor John Whitmire’s administration redirected about $100 million in revenue from the city’s water and wastewater utility to the $3 billion general fund, which supports most departments including police and fire. At the same time, the administration moved the more than $100 million solid waste department out of the general fund and into the utility while adopting a $5 monthly fee for garbage customers.

Altogether, the changes essentially erased the projected deficit for this fiscal year, which runs through June 2027.

Steven David, Whitmire’s chief operations officer, said the improved outlook is “just a validation of the work that Mayor Whitmire has been doing for the past two-and-a-half years.”

“If fiscal stability is a house, we’ve laid the foundation with this fiscal year, and it’s good to see that S&P is recognizing that,” he said.

S&P’s statement included a note of caution. The city’s budget deficit has routinely ballooned beyond what was planned.

In 2026, the administration expected a gap between revenue and spending of about $70 million. The actual deficit exceeded $170 million, although the city’s critical fund balance remained on target.

“If these deviations from the city’s budget continue, it could weaken our view of the city’s budgetary practices and overall reserves, aligning them more closely with those of lower-rated peers,” the agency said.

City Controller Chris Hollins — Houston’s elected financial official and a vocal critic of Whitmire’s financial policies — said the warnings “show we’re not out of the woods.”

The other “Big Three” credit ratings agencies have not yet announced changes. Fitch maintained a negative outlook, first assigned in 2024, while Moody’s outlook remained stable.

Finance

How digital payments are reshaping a fast-growing digital banking market

Published

1 day ago

June 26, 2026

Press Room

How digital payments are reshaping a fast-growing digital banking market

Digital payments are becoming an increasingly common part of everyday life in Uzbekistan, helping bring more consumers into the formal financial system and increasing demand for services beyond basic transactions.

According to a financial inclusion survey conducted by the Central Bank of Uzbekistan with support from the Asian Development Bank, 71.17% of respondents reported making or receiving at least one digital payment in 2025, compared with 39% in 2021.

The increase follows several years of policies aimed at expanding financial inclusion, encouraging electronic payments and introducing digital tools such as remote identification systems for banking customers.

Interviews conducted by Euronews on the sidelines of the Tashkent International Investment Forum (TIIF) suggest that the rapid adoption of digital payments is now beginning to influence wider parts of the financial sector, from lending and insurance to investment products and banking services for businesses.

Digital payments enter the mainstream

Industry executives point to a combination of demographic, technological and regulatory factors behind the growth of digital financial services.

Nikolay Seleznyov, co-founder of Uzum, a company active in e-commerce, digital payments and financial services, said the expansion is bringing more people into the banking system.

“More and more people are becoming bank customers. And this trend is irreversible.”

Oliver Hughes, chairman of TBC Uzbekistan, a digital bank operating through the TBC UZ and Payme applications, pointed to the country’s young population and widespread use of mobile technology as factors supporting the shift towards digital services.

The trend is also affecting established lenders. Dmitry Sapronov, deputy chairman of Ipoteka Bank, which became part of Hungary’s OTP Group in 2023, said customer demand for digital services has increased significantly in recent years, requiring banks to rethink how they deliver products and interact with clients.

Regulation and infrastructure

Executives said the growth of digital finance has been supported by both regulatory changes and investment in digital infrastructure.

The Central Bank and other institutions have introduced measures aimed at expanding financial inclusion and encouraging electronic payments, while digital identification systems have made it easier for consumers to access banking products remotely.

“The digital ID product was one of the biggest enablers here for all the players in the financial services industry,” Seleznyov said.

According to him, digital identification has reduced onboarding times from days to seconds, allowing financial institutions to verify customers remotely and expand access to services.

At the same time, Hughes argued that regulation remains a critical part of the sector’s development as more financial activity moves online.

“Regulation is always important because it’s people’s money, it’s people’s data.”

Sapronov also pointed to the need for continued investment in banking technology, saying the pace of development is creating pressure on institutions to modernise their systems.

Beyond everyday payments

While digital transactions are becoming more widespread, executives said many financial products remain at an earlier stage of development.

Sapronov said the transformation extends beyond individual products, affecting how banks operate, deliver services and interact with customers.

“This transformation touched all aspects of the banking operation, products, process, digitalisation, branch network, almost everything.”

His comments reflect a broader shift within the sector as banks adapt to customers who increasingly expect services to be available through digital channels.

Hughes highlighted insurance, investment products and services for micro, small and medium-sized businesses as areas where adoption remains relatively limited.

“The level of penetration of banking services is still fairly low.”

He also argued that retail investment products available through mobile applications are only beginning to emerge in Uzbekistan.

Areas that still need development

Despite the rapid growth in digital payments, executives identified several areas where further development is still needed.

Seleznyov also pointed to the importance of maintaining both digital and physical infrastructure, including payment terminals and cash access points, as consumers continue to move between cash and digital transactions.

Sapronov described technology as one of the sector’s main challenges, arguing that demand for digital services is growing faster than some parts of the industry’s infrastructure.

“The challenges are related to tech because the country is developing so fast, and in terms of technology, the banking sector is quite underdeveloped.”