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Wolfe Research names Nvidia its top AI semiconductor pick ahead of earnings
Wolfe cited rising capital expenditure expectations for AI infrastructure and supportive supply chain data, arguing financing deals with Nvidia and Broadcom could boost demand despite added risk.
Wolfe Research has reiterated its bullish view on AI semiconductor stocks by naming Nvidia its top pick, with the call coming ahead of the company’s upcoming earnings report, according to Yahoo Finance.
Analyst Chris Caso stayed broadly bullish, pointing to what the firm described as a still-strong AI semiconductor backdrop, including upward revisions in capital expenditure and supportive supply chain indicators that suggest AI infrastructure spending remains on an accelerating path.
Wolfe also pointed to financing deals involving Nvidia and Broadcom as evidence that major technology companies are still finding ways to fund large AI investment programs. The firm acknowledged that Nvidia taking on some financing exposure adds risk, but said the demand generated by these projects could be larger than the market currently expects.
The piece adds that Nvidia’s long term earnings potential could matter more than next quarter results, and notes the company’s market value is nearly $5.2 trillion. It also highlights Nvidia shares are up 17.7% over the past 52 weeks and up 12.3% over the last six months, as resilient AI chip demand and expanding data center investment have supported performance.