NVIDIA (NASDAQ:NVDA | NVDA Price Prediction), Palantir (NASDAQ:PLTR), and Advanced Micro Devices (NASDAQ:AMD) are the three names that defined this AI cycle. AMD is up 141.6% YTD. NVIDIA is up 9.58%. Palantir has actually fallen 25.61%.
The setup is unusual, and I think it creates asymmetric upside into 2028. Below is the math for how NVDA hits $300, PLTR hits $250, and AMD hits $800.
NVIDIA: The Path to $300 by 2028
NVIDIA’s Q1 FY27 was a monster. Revenue of $81.6 billion grew 85.2% YoY, Data Center hit $75.25 billion, and networking exploded 199% YoY. Jensen Huang framed it plainly: “The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed.”
Reaching $300 from today’s $204.12 requires a gain of 47%. On forward EPS of $8, $300 implies a forward P/E of 38x. Shares currently trade near a forward multiple of 26. Our base case at $251.05 already implies roughly 35x.
The bold target simply asks for modest additional multiple expansion on top of continued earnings growth. With 95% bullish analyst sentiment and an $80 billion buyback authorization backing it, I think $300 by 2028 is realistic if Blackwell Ultra and Vera Rubin ramp on schedule. China export policy is the primary risk.
Palantir: The Path to $250 by 2028
Palantir is the contrarian pick here. Shares are down big YTD, yet Q1 2026 produced the highest growth rate in company history: 84.7% revenue growth, U.S. commercial up 133%, and a Rule of 40 score of 145%. Alex Karp did not mince words: “We have shattered the metric, a feat matched only by other fellow AI infrastructure companies: NVIDIA, Micron and SK hynix.”
Reaching $250 from $132.22 requires a gain of 89.1%. On forward EPS of $1.40, $250 implies a forward P/E of 179x. That is expensive. The current forward multiple sits near 94x.
Our bull case projects $235.78 by July 2028, so $250 is a stretch, but not absurd. The pathway: sustain triple-digit U.S. commercial growth, expand the 46% GAAP operating margin, and convert the $2.41 billion Q1 TCV into recurring AIP revenue. Multiple compression is the obvious risk.
AMD: The Path to $800 by 2028
AMD is the momentum name. Data Center revenue of $5.78 billion grew 57% YoY in Q1 2026, and Lisa Su said “Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations.” Meta’s 6GW deployment and the 1GW MI450-based first tranche anchor the thesis.
Reaching $800 from $517.41 requires a gain of 54.6%. On forward EPS of $6.87, $800 implies a forward P/E of 116x. The current forward multiple is roughly 75x. That gap is where the risk lives.
Our 5-year bull case is $861.30, so $800 by 2028 requires forward EPS to accelerate faster than the model’s 91.2% YoY earnings growth pace. If MI450 ships at scale and gross margins push toward 56%, the math works. China export controls remain the swing factor.
The Bottom Line on This Trio
My verdict: NVDA at $300 is the most defensible target, PLTR at $250 is the highest-conviction contrarian call, and AMD at $800 is the most speculative.
All three depend on AI infrastructure spending sustaining through 2028, forward P/E compression via EPS growth rather than multiple collapse, and no policy shock from Washington or Beijing.
A demand air pocket in hyperscaler capex would derail the entire thesis at once. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how NVIDIA, Palantir, and AMD could reach $300, $250, and $800 respectively in 2028.
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