NVIDIA (NVDA) CEO Jensen Huang insists that software stocks are ready to pop, advising that Wall Street has the wrong idea on the industry presently. Huang argues that agentic AI will not replace current enterprise software products and services; it will use them on people’s behalf.

It’s very likely these [software] companies that we’re talking about are going to introduce agents that run on their platforms. You know, these agents, of course, they have to be experts at what they do, and nobody is going to understand customer service better than ServiceNow, and they are going to come up with agents that are really fine-tuned and optimized for the type of work that uses the tools that they have.

Huang went on to suggest that people should think about agentic AI in a similar way to how they would imagine physical robots behaving. Eventually, he suggests, when people have robots in their homes, it’s unlikely that those robots will reinvent the products and tools they require to perform tasks.

There’s been a wave of Nvidia (NVDA) stock target activity following the latest earnings, with Citigroup, BofA, and Sanford C. Bernstein all adjusting their outlooks and sending investors scrambling to figure out what it signals for price movement. The earnings beat landed better than most expected, hence Nvidia’s stock forecast got a revision.

NVDA is trading near the top of its 52-week range and above its 200-day simple moving average. At press time, Nvidia’s stock is looking bound to return to $200, and perhaps higher should the tech stock rally continue. Some caution has crept in because of macro headwinds — that’s fair, and the volatility in recent days, with stocks pulling back after major news, reflects that tension pretty clearly. But the Nvidia stock target revisions from major firms tell a different story: analysts are still backing the fundamentals, and also still raising numbers, which is about as direct a signal as you can get that they think the valuation case holds.