Goldman Sachs reaffirmed its Buy rating on Nvidia and kept its $300 price target after an AI-linked selloff hit chip stocks. The bank points to the chipmaker's growth guidance and hyperscaler spending, while the market focuses on regulation, borrowing costs and data-center spending.
Goldman Sachs reaffirmed its Buy rating on Nvidia and kept its $300 price target, even as a broad selloff swept through AI-linked stocks. The reaffirmation comes after a rough stretch for chip stocks.
Nvidia falls with the chip sector
Nvidia shares fell approximately 9% on November 5, 2026. The drop came as part of an industry-wide selloff, not a company-specific problem.
Fears of potential regulatory hurdles and concerns about elevated borrowing costs weighed on semiconductor stocks. Regulatory uncertainty and financial pressure on major cloud operators also stretched fears of a slowdown in data-center buildouts past the midterm elections.
Why Goldman holds its target
The $300 target is not new. Goldman lifted it from $285 to $300 in August 2026, after what it viewed as strong fiscal Q2 2027 results from Nvidia.
Much of the bank's confidence rests on Nvidia's own forecast. The company's fiscal 2027 guidance included an anticipated 70% revenue growth figure, and the data-center business carries most of that weight.
Hyperscalers' capital expenditure is expected to reach $800 billion for 2026. Goldman also ties its bullish view to market opportunities estimated to reach $3-4 trillion by 2030.
Targets across the chip sector
Nvidia is not the only chip name in Goldman's sights. The bank's targets include $640 for AMD, $540 for Broadcom and $1,250 for Micron.
The core tension is between two timelines. In the short term, the market is pricing in regulatory risk, borrowing costs and the possibility of a pause in data-center spending, while Goldman is pricing in a multi-trillion-dollar opportunity over the long term.
Source: Crypto Briefing
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