While the Taiwan Ministry of Finance’s April export data report showed a 28% month-over-month decline, potentially signalling the most recent semiconductor stock rally was at an end, UBS issued a note confirming it sees further upward potential for Nvidia (NASDAQ: NVDA).
Specifically, after concluding that the figures are mere normalization following the post-Lunar New Year catch-up activity, the banking giant’s Timothy Arcuri concluded that the world’s biggest chipmaker still benefits from strong artificial intelligence (AI)-related demand and has room for growth.
According to the analyst, this factor is underlined by the fact that, despite the 28% decline, Taiwanese exports remained elevated compared to historical levels. Thus, Arcuri assessed that NVDA stock is likely to rally 11.65% in the coming 12 months to $245.
Fundamental analysis indicates Nvidia stock can reach $315 by 2027
Also on May 8, Bernstein’s David Dai proved even more optimistic. Indeed, not only did the Wall Street expert reissue the ‘Buy’ rating, but also forecasted that Nvidia shares are set for a 36.71% rally to $300. The same rating and price targets were provided on May 12 by Citi (NYSE: C) analyst Atif Malik.
Elsewhere, the most bullish and recent prediction – issued by Wells Fargo’s (NYSE: WFC) Aaron Rakers – was based on a new gigawatt-capacity model and cited NVDA stock’s comparatively low price-to-earnings (P/E) of around 20 as a sign that a rally to $315 by 2027 is ‘durable.’
Analysts forecast Nvidia stock 12-month price target
Zooming out, the latest analyst notes are consistent with broad optimism regarding the blue-chip chipmaker that persisted equally through the early 2026 slowdown and decline, and the upsurge started in late March.
Overall, Nvidia stock is regarded as a ‘Strong Buy’ on Wall Street with an average 12-month price target of $274.38 – 25.04% above the press time levels at $217.77 – per the data Finbold retrieved from TipRanks on May 12.
Nvidia stock soars almost 17% in 2026
Notably, after failing to retain a valuation above $5 trillion in late 2025 and suffering a downturn in the subsequent months, NVDA equity entered into a decisive rally late in March.
Overall, Nvidia shares soared 15.03% in the last 30 days and 16.77% year-to-date (YTD), from $186.50 at the end of the previous year to $217.77 in the morning of May 12.
Additionally, Nvidia boasts the position of the most valuable company in the world and in history, with a market capitalization above $5.3 trillion.
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