ME News reports that on September 4 (UTC+8), J.P. Morgan believes NVIDIA’s core challenge is not insufficient demand, but rather supply constraints limiting its growth potential. NVIDIA’s management recently informed J.P. Morgan that, if supply constraints were lifted, the company’s business could potentially double year-over-year. Following a meeting with NVIDIA’s investor relations team, J.P. Morgan analyst Harlan Sur maintained an “Overweight” rating on NVIDIA and kept his price target at $320. NVIDIA’s management anticipates approximately 70% year-over-year business growth in fiscal year 2028, but Sur believes the actual underlying growth potential may be even stronger based on current customer demand. Meanwhile, NVIDIA’s visibility into future demand is also improving. Sur noted that management provided forward guidance for fiscal year 2028 due to a significant gap between its internal demand assessment and Wall Street projections. Releasing this expectation early also helps suppliers and other partners plan for higher future demand levels in advance. (Source: ODAILY)
JPMorgan Maintains 'Overweight' Rating on NVIDIA with $320 Price Target
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Summary
JPMorgan analyst Harlan Sur maintains an 'overweight' rating on NVIDIA with a $320 price target, citing on-chain data from MetaEra. The firm states that supply constraints, not demand, are limiting growth. NVIDIA management estimates that removing these constraints could double year-over-year revenue. Sur sees potential for growth exceeding the company’s 70% forecast for fiscal 2028. On-chain analysis indicates early demand visibility is enabling suppliers and partners to plan for increased capacity needs.
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