Earnings season for the major technology companies is basically over. There are some stragglers and off-calendar reports still coming due, but some stocks keep seeing analysts raising price targets even though it’s in the dog days of summer — and it has been shown time after time that August and September are historically the weakest months for the stock market.

Calendar be damned! Artificial intelligence is driving expectations even higher for some of the main technology players. Now the firm Mizuho has raised expectations for some of the main AI winners.

Mizuho raised price targets for AMD, Dell and NVIDIA. The move is after Mizuho boosted estimates in the global AI server group based on strength from the leading hyperscalers on a tailwind from Rubin in the second-half of 2026.. They aren’t alone as many other firms have previously raised their targets as well.

Tactical Bulls always warns readers that analyst calls should never be the only reason to buy or sell a stock. Multiple upgrades or price target hikes also do not come with any guarantees that the stock will rise ahead. Some stocks even fall due to profit taking and digesting big moves, even on good news.

MIZUHO SAYS…

Here is what Mizuho thinks for its higher price targets.

Advanced Micro Devices, Inc. (NASDAQ: AMD) was reiterated as Outperform and its price target was raised to $205 from $183. JPMorgan, Barclays, Evercore ISI, Wedbush, Stifel, Piper Sandler, Truist, Benchmark, BofA, Susquehanna and others jumped on higher target prices since the start of August. At $180, AMD is up 13% over the last month and up 50% YTD.

Dell Inc. (NYSE: DELL) was reiterated as Outperform and its price target was hiked to $165 from $150. Citi recently hiked its target as well to $160 from $135. Dell may be more of a packager rather than the creator of AI chips, but it still is up 13% over the last month and it’s up 21% YTD.

NVIDIA Corporation (NASDAQ: NVDA) is the leader in AI, of course, and Mizuho reiterated its Outpe4rform rating and raised its price target to $205 from $192. Piper Sandler and Wells Fargo have hiked NVIDIA’s price targets as well since the start of August. At $182, NVIDIA is up 6% over the last month and up 35% YTD.

DISCLAIMERS

The analyst ratings and price targets mentioned above have been credited to each form by name. Investors should keep in mind that analysts sometimes get their thesis and outlook wrong. Another risk is that market/company fundamentals can change from positive to negative in an instant.

Tactical Bulls does not have any formal ratings and does not maintain any price targets of its own on the stocks mentioned above. Interpretations of how positive or negative the analyst calls are can also wildly vary from investor to investor.

No analyst ratings and their price targets, even those with the strongest conviction or strongest pessimism, ever come with any guarantees of profits. Analyst reports also never have money-back guarantees in the event that investors lose money.