5 big analyst AI moves: Nvidia stock has 40% upside left; Cisco upgraded to Buy
) stock this week, raising the price target from $165 to $190, implying an upside potential of nearly 40% from current levels.
This bullish outlook is strengthened by recent industry developments, such as TSMC’s strong report, AMD’s AI event, and strong demand for Nvidia’s Blackwell chips, among other things. The firm raised concerns over declining demand in both the PC and wireless sectors, which together make up 38% of the total semiconductor market.
The bank expects TSMC’s 2nm technology to begin contributing to revenue in the second half of FY25, citing an over 30% average selling price premium for 2nm chips compared to 3nm, along with stronger customer engagement for 2nm. As a result of these projections, HSBC analysts have revised upward their gross margin estimates for TSMC for FY24 to FY26 to 55.8%, 59.2%, and 60.1%, respectively, compared to prior estimates of 54.7%, 57.1%, and 57.2%.In a note to clients released Wednesday, they highlighted that while AI currently makes up only about 2% of Cisco's revenue, the company is poised to benefit from the rising use of ethernet switches in AI-driven graphics processing units.
Cisco has forecasted an additional $1 billion in AI-related orders this fiscal year, and it anticipates its hyperscaler AI segment could reach $9 billion by 2027, driven in part by increased ethernet adoption. Analysts mentioned that this forecast may have grown as well.
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