BofA / Merrill Lynch analyst Vivek Arya raised his price target on Nvidia to a Street-high $360 after meeting with its CEO, CFO, and investor relations team to discuss the company's new Turing architecture. The analyst says the new technology "simultaneously supports high-end gaming, AI and pro-viz features in the same chip", which may produce "significant upside" in multiple segments. Arya believes that investors may be "materially underappreciating Turing's multi-pronged capability", adding that its 32-times forward earnings multiple relative to the sector's 17- to- 27-times reflects its superior growth profile. The analyst also keeps his Buy rating on Nvidia.

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Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."