Options Market Statistics: Nvidia Stock, AI Chip Stocks Retreat From Record Highs, Options Pop

Nvidia stock reversed lower recently as other chip stocks with artificial intelligence exposure also fell. On Tuesday, analysts at Barclays, Susquehanna and TD Cowen increased their price targets on the stock. With investors still loving Nvidia, the stock climbed to a record high Thursday before pulling back.

Barclay's analyst Tom O'Malley and Susquehanna analyst Christopher Rolland raised the price target to 145 from 120, split adjusted. Supply chain checks were reassuring and showed that the transition from Hopper chips to Blackwell will be smooth.

A Wolfe Research analyst suggests that next week's earnings report for Micron Technology Inc. may not serve as a "meaningful catalyst" for its stock, despite recent gains. The analyst, Chris Caso, is more optimistic about Micron's medium-term earnings potential, specifically for 2025 and 2026. While Micron's shares have risen 63% this year and 22% in the past month, Caso believes current elevated expectations mean the upcoming earnings report won't significantly impact the stock. However, he maintains a bullish stance with a $200 price target, citing potential $20 earnings per share driven by high-bandwidth memory and tightening supply. Raymond James analyst Srini Pajjuri also sees strong fundamentals for Micron, raising his price target to $160.

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