Citigroup Lowers Nvidia 2025 Price Target Amid Rising AI Competition

Citigroup analyst Atif Malik maintained a "Buy" rating on Nvidia but lowered the price target from $210 to $200, citing increased competition in the AI chip market, particularly from Broadcom and Google's tensor processing units. Despite this, Nvidia's stock is expected to rally, with technical analysis suggesting a potential rise to $245 by early November if key support levels hold. Nvidia remains a leader in AI GPUs and software platforms, expanding data center networking solutions, though concerns persist due to slower-than-expected data center revenue growth and client concentration. Malik's revised outlook reflects an anticipated 4% drop in GPU sales in 2026, influenced by Broadcom's strong growth and large AI chip orders from a mystery customer. Other firms like JP Morgan and DA Davidson continue to hold positive ratings and higher price targets, averaging around $211, reflecting optimism about Nvidia's medium-term prospects. Nvidia's CEO Jensen Huang's upcoming keynote on October 28 is a key event that investors are watching amid these mixed signals.