On August 27, Bank of America named NVIDIA (NVDA.O) as a top pick, maintaining a 'Buy' rating and a target price of $350. NVIDIA expects its sales to grow by approximately 70% in fiscal year 2028, significantly surpassing market expectations of 45%, with demand continuing to outstrip supply. Bank of America has raised its future earnings-per-share forecast, primarily based on the rapid ramp-up of Rubin chips, growth in AI revenue per gigawatt, and strong long-term demand. However, rising memory costs could push gross margins down to 72%-73%, posing a major pressure.