Nvidia (NVDA) Stock: Major Banks Turn Bullish Before GTC 2026 Conference

Key Takeaways Wells Fargo expresses optimism for NVDA before GTC 2026, referencing historical data showing 3-month outperformance versus the SOX index ranging from +12% to +45% Bank of America maintains its Buy recommendation with a $300 price target, highlighting NVDA’s valuation at approximately 17x forward PE — a historical low point The chipmaker is anticipated to showcase its next-generation co-packaged optic switch along with developments in its Feynman GPU architecture and Kyber NVL576 systems The rise of agentic AI is creating renewed demand for CPUs — Nvidia’s Vera CPU has entered production and is operating in Meta facilities, with broader deployment scheduled for 2027 A developing supply shortage is affecting the CPU sector, with AMD and Intel reporting extended lead times of up to six months and price increases exceeding 10% Nvidia (NVDA) is approaching its yearly GTC conference scheduled for next week, and market analysts are paying close attention. The gathering, taking place March 16–19 in San Jose, California, has the potential to serve as a significant catalyst for the semiconductor giant’s shares — and possibly the wider chip industry. NVIDIA Corporation, NVDA Analysts at Wells Fargo, under the leadership of Aaron Rakers, stated they are “NVDA buyers ahead of the event.” The investment bank highlighted a trend of robust equity performance during the three-month period following previous GTC gatherings, with NVDA beating the SOX semiconductor index by approximately 30% on average, spanning a range from +12% to +45%. Vivek Arya, analyst at Bank of America, also confirmed a Buy rating alongside a $300 price target. He observed that the stock is presently valued at roughly 17x forward earnings — approaching a historical floor — after a successful Blackwell product launch that reportedly delivered an estimated $500 billion in aggregate revenue. CEO Jensen Huang is scheduled to present a keynote speech at 2 p.m. ET on Monday. He will additionally lead...