Goldman Sachs: Nvidia's Bargain Price Already Reflects Lost Market Share

Goldman Sachs analysts believe Nvidia (NVDA) stock at current levels already reflects fears of losing market share in AI spending, making it an attractive buy. Shares closed up 0.4% Monday at $195.60, while the semiconductor index has nearly doubled in 2026.

Rating Change

Goldman Sachs maintained their positive rating on the stock, noting that the current price presents an opportunity for patient investors. The report did not specify a change in price target.

Analyst Rationale

Analysts argue that market fears of Nvidia losing its share of AI spending are overblown, and the stock has already priced in these concerns. With continued demand for AI chips, Nvidia could benefit from long-term growth.

Context

While Nvidia's stock has risen less than 5% in 2026, the semiconductor index has nearly doubled, driven by big gains from Micron, AMD, Intel, and Marvell. This divergence reflects investor focus on other companies in the sector.

What to Make of It

Goldman's recommendation suggests Nvidia may be undervalued, but investors should weigh this against increasing competition in the AI chip market.