Following its 9.39% plunge between February 25 and February 27, Nvidia (NASDAQ: NVDA) stock has stabilized in March with its press time price of $182.85, and has managed to retain institutional confidence.
The latest demonstration of this persistent optimism came from the UBS analyst Timothy Arcuri, who, on March 9, reiterated that NVDA shares have a ‘Buy’ recommendation and are expected to rally 33.99% in the coming 12 months to reach $245.
Simultaneously, this most recent update represents a reiteration of the Nvidia stock forecast issued early in February when the firm upgraded the price target for the blue-chip chipmaker’s equity from $235 to $245.
At the time, the key driver behind the bullishness was the semiconductor giant’s then-upcoming earnings report.
Considering the fact that Nvidia managed to soundly beat Wall Street’s expectations by unveiling $68.13 billion in revenue and $1.62 in earnings per share (EPS), while simultaneously setting the guidance for the first fiscal quarter at $78 billion, the persistent optimism is easy to explain.
Wall Street remains bullish on Nvidia stock despite growing AI anxiety
Indeed, Wall Street as a whole remains highly bullish despite the wider public fears that the artificial intelligence (AI) boom might have absorbed too much in terms of capital expenditure and other investments while yielding relatively little actual value.
Specifically, OpenAI’s own internal projections allegedly anticipate a $14 billion loss in 2026, while recent polling among thousands of corporate executives reportedly shows little to no positive impact of AI adoption for companies.
Still, Nvidia shares’ average 12-month price target of $272.16 and the average ‘Strong Buy’ rating, as data retrieved by Finbold from the stock analysis platform TipRanks, shows that Wall Street is willing to continue waiting for the promised breakthroughs.
Is Nvidia about to launch an OpenClaw competitor?
Elsewhere, Nvidia itself is reportedly planning a new drive toward AI adoption with a program inspired by the popularity of the OpenClaw.
To be precise, the semiconductor giant has allegedly reached out to multiple major technology companies as part of its drive to unleash an open-source agent dubbed NemoClaw ahead of the annual developer conference, per a March 9 Wired report citing ‘people familiar with the company’s plans.’
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