Valuation Compression and Bullish Analyst Upgrades

NVDA trades at 16x forward P/E, cheapest in a decade, with BofA PT $350 and KeyBanc PT $330. FCF hit $48.6B in Q2 2026, up 85% YoY. New FCF analysis shows $96.6B FY26 FCF and $80B buyback, with Vera CPU opening $200B TAM. Cathie Wood buying NVDA and TSMC across five funds reinforces bullish sentiment. IBM and Together AI $240M deal validates enterprise demand.