NVDA at record, nearing ~$6T cap: BNP lifts PT to $345 (was $285), Ives says estimates 20–30% too low

[LondonNewsTrader]

NVDA closed Monday up about 2.1% at a fresh all-time high and added roughly another 0.5% after hours. The market cap is now edging toward $6 trillion, and it's leading the Nasdaq to records even with the 10y sitting near 24-year highs.

Analyst flow this morning:
- BNP Paribas raised its price target to $345 from $285 and kept Outperform. Their argument is that rivals are getting more competitive, but Nvidia's full-stack platform is hard to replicate.
- Wedbush's Dan Ives told CNBC he thinks street estimates could be 20–30% too low over the next 6–8 quarters, with enterprise and "physical AI" demand broadening beyond the hyperscalers.
- Per Koyfin data cited by Stocktwits, 58 of 61 analysts rate it Buy or better. The average target (~$329) is only around 5% above the current price, so new highs keep forcing target raises.

Context: NVDA is up roughly 25% YTD and about 14% since its 26 Aug earnings, but it has actually lagged INTC and AMD in 2H on a percentage basis.

Scalper read: a stock at all-time highs into a quiet data day is a classic opening-range setup. I'll watch the first 15–30 minute range and whether buyers defend Monday's close. The risk I keep in mind is the bond market: if the 10y pushes back toward Monday's 5.35% high, mega-cap tech is the obvious place for a quick de-risking flush, and NVDA moves the whole NQ.

Sources (public): Stocktwits (5–6 Oct, Ives/BNP), WSJ futures wrap and Yahoo Finance live blog, 6 Oct.

Are you trading NVDA breakouts at these levels or waiting for a pullback to Monday's breakout area? And at what 10y level would you start leaning short on the mega-caps?