--- title: "Piper Sandler Picks 5 Chip Stocks for the Next $2.2T AI Compute Boom. Is Your Favorite on the List?" type: "News" locale: "en" url: "https://longbridge.com/en/news/298596876.md" description: "Piper Sandler analyst David O'Connor initiated coverage of five AI chip stocks—AMD, Arm, Broadcom, Marvell, and Nvidia—with Overweight ratings, predicting a $2.2 trillion AI compute market by 2030. AMD received the highest price target at $600, while Nvidia and Broadcom were named top picks for AI accelerators. Intel and Qualcomm received Neutral ratings. The firm highlights strong demand drivers including agentic AI and custom chip agreements." datetime: "2026-09-10T12:37:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298596876.md) - [en](https://longbridge.com/en/news/298596876.md) - [zh-HK](https://longbridge.com/zh-HK/news/298596876.md) generator: "portal-rs" --- # Piper Sandler Picks 5 Chip Stocks for the Next $2.2T AI Compute Boom. Is Your Favorite on the List? Piper Sandler analyst David O'Connor sees a $2.2 trillion AI compute market by 2030, and the firm has picked five chip stocks it expects to benefit. O'Connor initiated coverage of AMD (AMD), Arm Holdings (ARM), Broadcom (AVGO), Marvell Technology (MRVL), and Nvidia (NVDA) with Overweight ratings. AMD received the highest price target at $600. Nvidia and Broadcom are Piper Sandler's top picks among AI accelerators. ## **Which 5 Chip Stocks Does Piper Sandler Like?** **1\. AMD — $600 target, about 15% upside from current levels:** O'Connor sees agentic AI driving more server CPU demand. He expects AMD's revenue to grow at a 50% CAGR through FY30 and EPS at a 65% CAGR. "Agentic AI is driving an acceleration in demand for CPU Server chips, where AMD is among the primary beneficiaries and taking share," O'Connor wrote. **2\. Nvidia — $300 target, about 34% upside:** Piper Sandler calls Nvidia the "outright leader in AI Compute" with 80% market share. It expects supply to remain tight for another two to three years. "Running faster than competitors has allowed NVDA to maintain its leading position in an increasingly crowded space," O'Connor said. **3\. Broadcom — $460 target, about 26% upside:** Broadcom holds about 75% of the ASIC market for AI inference, according to Piper Sandler. Demand is currently about twice supply, the firm estimates. O'Connor sees the company as the "cheapest in our AI universe." **4\. Arm — $320 target, about 21% upside:** Arm has about 50% share of its target CPU IP markets. Piper Sandler sees its move into accelerator IP as a major earnings opportunity. The analyst estimates that capturing about 10% of the ASIC market could double Arm's current earnings. **5\. Marvell — $270 target, about 15% upside:** The firm sees Marvell benefiting from custom AI chips and optical networking. Its $120 billion agreement with Google (GOOGL) is a major part of the thesis. O'Connor called the deal "validation of the strategy and transformative for the company." ## **What About Intel and Qualcomm?** Piper Sandler also initiated coverage of Intel (INTC) and Qualcomm (QCOM), but both received Neutral ratings. The firm set price targets of $110 for Intel and $190 for Qualcomm. Intel is benefiting from tight server CPU supply, which Piper Sandler expects to remain in place until 2029-30. But the firm believes the stock already reflects about 15% foundry market-share gains, which it estimates account for roughly 45% of the share price. Meanwhile, Qualcomm has more to prove in data centers. O'Connor expects the business to contribute about 26% of FY29 revenue, but said new design wins are already priced into the stock. "To turn more bullish, we would like to see more traction and/or industry acceptance of QCOM's HBC technology," he wrote. ## **Which AI Chip Stock Does Wall Street Like Most?** According to the TipRanks Stock Comparison Tool, AMD, Nvidia, Broadcom, Arm, and Marvell all have Strong Buy consensus ratings. Qualcomm has a Moderate Buy rating, while Intel is rated Hold. Nvidia has the highest analyst upside among Piper Sandler's five picks at 44.99%, based on an average price target of $324.30. Broadcom follows with 42.49% upside to $519.21. Marvell has 28.10% upside to $301.04, while AMD offers 23.87% upside to $645.50. 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