DA Davidson cuts its Nvidia price target to $200, warning investors about a post-Huang transition

DA Davidson adjusted its outlook on Nvidia, cutting its stock price target to $200 from $300 while keeping a Buy rating, according to a report on Yahoo Finance published Friday.

The change reflects a more cautious stance on how the semiconductor giant navigates leadership transitions. In the Yahoo Finance piece, the analyst drew a comparison between Nvidia without CEO Jensen Huang and Apple without Steve Jobs, arguing the former situation is harder than the latter, using that analogy to frame risk for investors.

The lowered target implies the firm sees less upside than previously expected, even as it still believes the company’s shares deserve a positive rating. Price targets typically incorporate expectations for business performance and valuation assumptions, so the reduction indicates a change in either future growth expectations, the timing of key catalysts, or how much the market is likely to pay for those results.

Nvidia’s leadership has been closely tied to its narrative in recent years, including the role its CEO has played in communicating the company’s strategy to customers, partners, and investors. The analyst’s Jobs comparison suggests the concern is not merely about operational continuity, but about whether leadership still provides the same level of momentum and confidence once a defining executive is no longer at the center.

In Apple’s case, Steve Jobs’ absence after his first era in the late 1990s and early 2000s created its own test of continuity, and Apple ultimately worked through that period by reshaping product cycles and corporate priorities. The DA Davidson comment, as presented by Yahoo Finance, uses that historical reference point to argue that Nvidia’s dependence on Huang as a visible driver of conviction and strategy may be especially difficult to replicate.