BofA: Nvidia's next earnings report could kick off a "multi-quarter upgrade cycle"

Bank of America expects Nvidia's upcoming second-quarter earnings report to initiate a "multi-quarter upgrade cycle," with the chipmaker likely to surpass expectations and raise its outlook. The optimism stems from the imminent shipment of Nvidia's Vera Rubin platform and strong cloud capital spending. BofA maintains a Buy rating and a $350 price objective on Nvidia stock, anticipating revenue beats and higher guidance for the next quarter.