A Wall Street analyst has raised his price targets on seven stocks tied to the buildout of artificial intelligence data centers, including Nvidia, ahead of second-quarter earnings season.
Mizuho Securities analyst Vijay Rakesh late Wednesday upped his price targets on Advanced Micro Devices, Arm Holdings, Broadcom, Credo Technology, Dell Technologies, Intel, Nvidia and Super Micro Computer.
Rakesh rates all of them as outperform except for Intel and Supermicro, for which he has neutral ratings.
The Q2 earnings season for semiconductor stocks kicks off on July 16 with results from chip-gear giant ASML. Taiwan Semiconductor Manufacturing will follow with its June-quarter report on July 17.
Santa Clara, Calif.-based Nvidia plans to report its fiscal second-quarter results on Aug. 27.
Rakesh raised his price target on Nvidia stock to 185 from 170. The move came just hours after he called the AI chip leader one of his "top picks" along with Broadcom and Micron Technology.
On the stock market today, Nvidia stock climbed 1.3% to close at 159.34.
Nvidia Stock Is On Four IBD Lists
Rakesh predicted a strong second-half 2025 performance for Nvidia thanks to tailwinds from its Blackwell processor product line. Server makers Dell and Supermicro are benefiting from the Blackwell ramp, he said.
Nvidia stock is on four IBD stock lists: IBD 50, Leaderboard, Sector Leaders and Tech Leaders.
Taiwan Semiconductor is on three lists: IBD 50, Global Leaders and Tech Leaders.
Broadcom is on two lists: Leaderboard and Tech Leaders.
Arm and Credo are on the Tech Leaders list.
Elsewhere on Wall Street, other analysts were touting their top picks among chip stocks.
Deutsche Bank on Thursday named fabless chipmaker Monolithic Power Systems and chip-gear supplier MKS as top picks for the third quarter.
On Monday, Rosenblatt Securities named Lattice Semiconductor and Micron to its list of "best ideas" for second-half 2025.
Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
