Woofun AI reports that Bank of America Securities reiterated a buy rating on NVIDIA with a $350 target price, citing a forward P/E ratio of 18x, a near 7-year low. The bank argues the market incorrectly prices in a 30%-35% EPS downside for 2027-2028, noting NVIDIA's 2027 PEG of 0.3x is significantly lower than peers. Bank of America asserts that concerns over memory costs and ASIC competition are overstated, highlighting NVIDIA's expanding wallet share among hyperscalers and expected mid-70% gross margins.