(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chip giant and an e-commerce company were among the names being talked about by analysts on Tuesday. Oppenheimer raised its price target on Nvidia after the company completed a 10-for-1 stock split. Meanwhile, JPMorgan initiated Shopify with an overweight rating. Check out the latest calls and chatter below. All times ET. 6:27 a.m.: Here’s what analysts are saying after Apple’s WWDC event While analysts are cautious to not label Apple’s WWDC event a game changer, they view the iPhone makers progress on artificial intelligence as enough to cement their footing. Shares fell Monday “on the absence of any ‘killer apps,’ [but] our experience with consumer surveys with prior generations of iPhone launches tell us that the hardware upgrade cycle is more driven by a collection of feature upgrades across diverse applications, which in aggregate will provide the estimated 1.4 bn installed base reasons to upgrade over the next few years,” JPMorgan analyst Samik Chatterjee said on Tuesday, while also reiterating an overweight rating with a $225 per share price target. Chatterjee’s forecast implies about 17% upside from Monday’s $193.12 close. “We believe Apple’s WWDC was the best WWDC conference in a long time as it introduced ‘AI for the rest of the people,'” Citi analyst Atif Malik said. The analyst reiterated a buy rating on the iPhone maker and maintained a $210 per share price target, or about 9% upside. “We’re encouraged by the financial implications of today’s announcements, with product features that should help to drive upgrade demand for products,” Goldman Sachs Michael Ng said. His buy rating and $238 per share price target implies more than 23% upside ahead. The analyst added that Apple’s partnership with OpenAI to license ChatGPT could “potentially mitigate compute costs.” — Brian Evans 6:07 a.m.: Morgan Stanley maintains Ford as top pick Morgan Stanley head of U.S. automotive research Adam Jonas thinks Ford Motor is best recognizing the shifting dynamics of the electric vehicle market. “We believe Ford is demonstrating increasing understanding that its current EV strategies have to change materially,” Jonas said. The analyst reiterated Ford as a top pick with a $17 per share price target and an overweight rating, which implies more than 37% upside from Monday’s close. Jonas said Ford’s move to work alongside Chinese automakers to bolster its EV operation is the best path forward, as lower consumer adoption remains a headwind. “We expect a near-term ‘burst’ in protectionism will ultimately settle into mutual cooperation/partnership where Western firms leverage China EV tech (on-ramp) while mitigating the EV spending burden (off-ramp),” he added. Ford stock has ticked up about 2% in 2024. — Brian Evans 5:41 a.m.: Oppenheimer raises Nvidia price target after stock split Nvidia’s momentum will continue, according to Oppenheimer. Analyst Rick Schafer reiterated an outperform rating on Nvidia in a Monday note and increased his price target to a split-adjusted $150 per share from $110. Schafer’s forecast implies more than 23% upside in 2024. Nvidia recently completed a 10-for-1 stock split. “We see NVDA as best positioned in AI, benefiting from their full stack AI hardware, networking, and software solutions,” Schafer said. The analyst also upped his 2024 and 2025 full-year earnings estimates to $2.62 and $3.32 per share to account for the split. “We see several structural tailwinds driving sustained outsized topline growth in high performance gaming, datacenter/AI and autonomous driving vehicles,” he added. — Brian Evans 5:41 a.m.: JPMorgan says buy Shopify Shopify is the “online sale you don’t want to miss,” according to JPMorgan. The bank initiated the e-commerce stock with an overweight rating. Its price target of $74 implies upside of 17.4% from Monday’s close. Shares of Shopify have been under pressure this year, losing 19.1%. However, analyst Reginald Smith thinks this decline has created a buying opportunity for investors. SHOP YTD mountain SHOP year to date “We believe Shopify’s product breadth, ease of use, and scale are distinct competitive advantages that will continue to fuel industry-leading growth,” Smith wrote. “We model 18% compounded revenue growth through ’26 as SHOP benefits from the secular shift toward e-comm and scales growth initiatives and think the recent pullback creates an attractive entry opportunity for new investors.” Shopify shares were up 1% on the back of the bullish initiation. — Fred Imbert