Vivek Arya, a Wall Street analyst at Bank of America Corp. (NYSE: BAC), has 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 for Nvidia stock on July 7 in a note to clients. He further set his 12-month price target for NVDA shares at $350, implying a potential rally of about 77.4%, as the company’s stock traded at about $197.30 at press time.
The analyst argued that the recent Nvidia stock pullback aligns with historical weak seasonal patterns. Nonetheless, Arya anticipates the company’s stock market to rebound in the near term, fueled by rising global cloud demand amid growth in AI (Artificial Intelligence) infrastructure.
Specifically, Arya’s bullish Nvidia stock forecast for 2026 and beyond is bolstered by the ongoing tokenization of real-world assets (RWA) and the adoption of AI agents amid supply-constrained infrastructure. As such, the bank concluded that the company offers investors high-quality and durable growth.
The analyst emphasized Nvidia’s robust 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 $2 million to $3 million increases in complete server selling prices.
Nvidia stock forecast 2026 and performance
Following Arya’s bullish NVDA stock forecast for 2027 and beyond, 37 Wall Street analysts surveyed by TipRanks over the past three months have set an average 12-month price target of $309.93.
As a result, these analysts have signaled a strong Buy for MVDA stock forecast 2026. With NVDA shares trading at about $197.30 at press time, Wall Street analysts anticipate about 56.8% upside.
Year-to-date (YTD), NVDA shares have gained 4.47%, reinforcing bullish sentiment among Wall Street analysts.
