Analysts Size Up Meaningful Upside Ahead for 2 Tech Leaders: Apple Inc. (AAPL) and NVIDIA Corporation (NVDA)

A Glimpse into Bullish Forecasts for Apple and NVIDIA

Apple iPhone Enthusiasm Can Stand Up to Samsung’s New Galaxy Note8

Yesterday, Apple Inc. (NASDAQ:AAPL) rival Samsung held its UNPACKED event in New York City, unleashing its Galaxy Note8 to the public for pre-order today, and in stores next month. The media is likewise buzzing with reports that Apple has plans of its own to hold an iPhone event September 12th, just three days prior to Samsung’s fresh device.

Drexel Hamilton analyst Brian White came away “constructive” after a “test drive” of the Note8, but remains just as bullish as ever on Apple’s prospects with its 10th anniversary edition iPhone model, believing anticipation is still climbing to a high.

As such, the analyst reiterates a Buy rating on shares of AAPL with a $208 price target, which represents a just under 30% increase from where the stock is currently trading. (To watch White’s track record, click here)

White acknowledges, “Samsung kicked off today’s UNPACKED event by taking full responsibility for the Note7 fiasco, indicating the company will never forget what happened last year. Samsung went on to thank customers for believing in the company,” adding, “The camera got an upgrade and Samsung made favorable comparisons with the iPhone 7 Plus. Essentially, Samsung claims the Note8 is the ‘first smartphone with two 12MP rear cameras with OIS on both the wide-angle and telephoto lenses.'”

Overall though, “In our view, Samsung unveiled a solid new device today; however, we continue to believe consumers are eagerly awaiting the 5.8-inch iPhone 8 this fall and we believe Apple’s stock has healthy upside potential […]” concludes the analyst, confident on the “fury ahead of the iPhone 8.

TipRanks analytics demonstrate AAPL as a Buy. Out of 34 analysts polled by TipRanks in the last 3 months, 25 are bullish on Apple stock while 9 remain sidelined. With a return potential of 6%, the stock’s consensus target price stands at $170.10.

Nvidia to Do Well in an AI/Crypto Currency Data Mining World

Praising NVIDIA Corporation (NASDAQ:NVDA) for strength in business performance that has benefited from advantageous gaming and crypto currency platforms, Tigress analyst Ivan Feinseth is out with a bullish research note on the chip giant.

Feinseth highlights, “NVDA continues to show strong Business Performance driven by strong gaming results and new innovative applications of its GPUs,” continuing, “NVDA’s market-leading and high-speed GPUs are taking it beyond gaming into new emerging industries.”

Artificial intelligence will be crucial to the chip giant’s growth trajectory down the line, as the analyst believes, “NVDA’s ability to incorporate AI technology in cloud computing services, self-driving vehicles and home automation will continue to drive new opportunities for growth.”

Meanwhile with “NVDA […] evolving into becoming a major technology supplier to the automotive industry,” among the chip giant’s stellar gaming performance coupled with flourishes of innovation in GPU applications, “We believe significant upside in the shares still exists from current levels,” opines the analyst.

Ultimately, “We believe increasing demand in AI, crypo currency data mining and other emerging technologies will continue to drive results that could well exceed our current expectations,” Feinseth contends.

Therefore, the analyst reiterates a Buy rating on NVDA without suggesting a price target.

TipRanks analytics exhibit NVDA as a Buy. Based on 25 analysts polled by TipRanks in the last 3 months, 16 rate a Buy on Nvidia stock, 6 maintain a Hold, while 3 issue a Sell on the stock. The 12-month average price target stands at $154.16, marking a 7% downside from current levels.

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