Analysts Are Bullish on Top Technology Stocks: Nvidia (NVDA), Salesforce (CRM)

Taiwan charged nine people, including one from Nvidia and two from Super Micro, for illegally exporting banned AI servers to China. The servers contained 'B300' GPUs, restricted from sale to China by US export controls. Nvidia stated it will cooperate with Taiwan's investigation. China is developing domestic chip alternatives due to US restrictions.

NVIDIA reported Q2 2027 revenue of $96.2B, up 18% sequentially and 106% YoY, with shares at $225.92. Free cash flow dropped $27.2B sequentially to $21.3B, due to increased receivables, inventory, and taxes. The company extended payment terms for large customers, raising questions about vendor financing. Operating income was $63.73B, with capital spending at $2.68B. NVIDIA has $279B in supply commitments and partnerships with major firms.

Salesforce (CRM) and ServiceNow (NOW) reported strong earnings, with CRM up 22% and NOW up 25%. CRM's AI-driven Agentforce ARR surged 240% to $1.5B, while NOW's AI ACV crossed $1B. CRM raised FY27 guidance but only $100M from organic growth. Both companies emphasized AI's role in expanding, not replacing, enterprise software.

NVIDIA (NVDA) and Broadcom (AVGO) both reported record AI-driven quarters, with NVDA posting $96.22B in Q2 FY27 revenue and AVGO delivering $22.19B. NVDA's revenue is concentrated among four hyperscalers, while AVGO's risk is tied to Google and Meta. NVDA invests $50B in labs that buy its chips, raising concerns about circular financing. AVGO has a cash cushion from VMware. Both companies guided for future growth, with NVDA at 70% for FY28 and AVGO targeting $100B in FY27.

Nvidia reported strong results and forecast 70% revenue growth in 2028, exceeding analyst expectations. Its shares rose 9%, lifting other semiconductor and software stocks. Salesforce gained 23% after beating forecasts. Fed Chair Warsh's speech at Jackson Hole may impact market sentiment. The Dow, S&P 500, and Nasdaq have risen 11.5%, 12.9%, and 14.2% year-to-date, respectively. The FTSE100 lagged due to low tech exposure but gained 9.1% year-to-date.

Marvell (MRVL) fell 7% despite beating estimates and raising FY2028 revenue target to $18B, as Google AI payoff delayed to FY2029. Google holds a warrant for up to 7% of MRVL shares. NVIDIA (NVDA) and Intel (INTC) saw minor declines. Investor Day on Oct 6 is the next catalyst.