In a recent research note, Oppenheimer analyst Rick Schafer laid out the bull case for buying Nvidia (NVDA) stock -- why he rates it "outperform" and expects Nvidia shares to nearly double to $300 over the next 12 months. (To watch Schafer's track record, click here) As Schafer tells it, Nvidia's software and chips have made the company essential to the "AI ecosystem," giving Nvidia management "unique visibility as they develop products in lockstep with cloud hyperscale customers." The company's central position in AI also helps to make available to Nvidia multiple levers that it can pull, to keep its growth going despite the Fed's efforts to slow the economy.
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