JPMorgan Keeps Overweight Rating on NVDA

NVIDIA Corporation (NASDAQ:NVDA) is one of the 10 Unrivaled Stocks of the Next 3 Years. On September 4, JPMorgan reaffirmed an Overweight rating on NVIDIA Corporation (NASDAQ:NVDA) with a price target of $215.

This decision came after a meeting with NVIDIA Corporation’s (NASDAQ:NVDA) Vice President of Investor Relations and Strategic Finance.

JPMorgan noted that the demand for NVIDIA Corporation’s (NASDAQ:NVDA) data center products is outpacing supply. The lead time for these products remains long but stable when measured in quarters. This is despite the busy ramp-up of Blackwell Ultra chips in the company’s second quarter.

JPMorgan analysts highlighted that Blackwell Ultra accounted for about 50% of NVIDIA Corporation’s (NASDAQ:NVDA) Blackwell product mix in the quarter. The stretched lead times show that demand continues to be higher than supply, even two years into the current AI spending cycle.

NVIDIA Corporation (NASDAQ:NVDA) also assured JPMorgan that the company’s upcoming Vera Rubin platform is on track to launch in the second half of 2026. This cleared up recent market speculation about possible delays.

NVIDIA Corporation (NASDAQ:NVDA) is an American multinational technology company that specializes in graphics processing units (GPUs), AI hardware and software, and high-performance computing (HPC) solutions.

While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.