UBS analyst Timothy Arcuri reiterated a Buy rating and $300.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst commented, "The Taiwan Ministry of Finance released September export data, including Automatic Data Processing equipment (ADP). ADP ex laptops came in at $29.8B, up 25.9% M/M from August’s $23.7B, well above normal September seasonality (-0.3% M/M on average). The September surge followed a more modest August recovery (+5.1% M/M versus +2.3% seasonal) after July’s 10.6% M/M decline. The elevated absolute level of exports remains consistent with healthy underlying AI-driven demand. Assuming August and September together constitute a normal 63.4% of F3Q (Oct Q), the two months’ $53.4B in exports would imply approximately $84.3B for the full quarter, or +13.9% Q/Q (after F2Q27 rose 4.4%)—below our DC revenue estimate, consistent with the historical pattern we have observed."

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Shares of NVIDIA closed at $230.48 yesterday.