In the latest developments in the field of artificial intelligence (AI), analysts have made significant moves, providing insights and recommendations for several key players. Evercore ISI analysts have recommended buying Nvidia stock ahead of its upcoming earnings report for the July quarter. They believe that concerns about potential delays in the release of the Blackwell system, Nvidia's next-generation AI chips, are unwarranted, emphasizing strong demand for Nvidia's systems. These sentiments are supported by a 20% quarter-on-quarter increase in hyperscale capital expenditure (CapEx) during Q2 2024, with projected growth of 8% in Q3 and 10% in Q4.

Earlier reports had suggested possible delays in the release of Nvidia's Blackwell system, which led to investor concerns about the sustainability of Nvidia's stock rally. However, Evercore analysts point to Nvidia's past resiliency in developing alternative solutions during product disruptions in 2008, 2022, and 2023. They also believe that even if a delay were to occur, the demand for Nvidia's current generation Hopper solutions would remain strong, particularly among Tier 2 and 3 Cloud Service Providers (CSPs) and enterprises. As a result, Evercore continues to view Nvidia as its "Top Tectonic Shift in Computing pick," raising their target price for the stock from $145 to $150 and projecting earnings per share (EPS) of over $10 by 2030.

On the other hand, according to MoffettNathanson, while Apple is positioned to be a significant player in the AI space, its potential in this field is already factored into its stock price. MoffettNathanson initiated coverage of Apple with a Neutral rating and set a price target of $211 per share. They recognized Apple's strong AI strategy, which leverages the trust of its over one billion users, particularly in handling personal data. However, the market has already anticipated and priced in these developments, as evidenced by the confidence shown by investors in Apple's strategy post the World Wide Developers Conference (WWDC). MoffettNathanson also noted that Apple's new AI functionality would support an iPhone upgrade cycle, but the impact of this cycle is already reflected in the current stock valuation.

Meanwhile, Edward Jones initiated research coverage of Advanced Micro Devices (AMD) with a Buy rating, adding the semiconductor giant to its Stock Focus List. Edward Jones sees multiple catalysts that could drive substantial growth for AMD in the coming years. One key factor is the rising demand for data center infrastructure, expected to propel sales of AMD's graphics processing units (GPUs) and central processing units (CPUs). The acquisition of Xilinx by AMD further adds potential, as the integration of Xilinx's programmable chip products with AMD's existing offerings is still in its early stages. Edward Jones sees significant cross-selling opportunities, estimated to be worth as much as $10 billion, and potential for a prolonged upgrade cycle in the PC market driven by AI-enabled PCs.

Lastly, Bank of America analysts issued a double downgrade on Silicon Motion Technology (SIMO) stock, downgrading it from Buy to Underperform. The downgrade is based on expectations of limited growth following the upturn in the first half of 2024. Bank of America analysts noted that the company's guidance for the second half already indicates minimal top-line growth compared to Q2 2024. Their analysis suggests low growth in 2025 for sales, operating profit (OP), and earnings per share (EPS).

In conclusion, analysts' moves in the field of AI have highlighted opportunities and concerns for key players. Nvidia has received a recommendation to buy, Apple is seen as already priced-in, Edward Jones is bullish on AMD, while SIMO faces a downgrade. These analyst moves provide valuable insights for investors looking to navigate the evolving landscape of AI technology.