Cantor Fitzgerald Remains Bullish On NVIDIACantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and a $350 price forecast on NVIDIA while discussing the implications of President Donald Trump's recent China visit.Speaking with CNBC on Friday, Muse said NVIDIA's larger opportunity extends beyond chip sales into China. He argued that expanding the company's CUDA software ecosystem within Chinese products could prove more strategically important over the long term.Ahead of NVIDIA's earnings report, Muse said he expects the company to deliver another "beat-and-raise" quarter. He also said NVIDIA could announce a major share repurchase program, which he believes could become a meaningful catalyst for the stock.AI Demand And Taiwan Semiconductor Relationship In FocusMuse said compute demand remains sold out across the semiconductor industry, while Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) continues to represent a key supply constraint.According to Muse, NVIDIA benefits from its dominant relationship with Taiwan Semiconductor, positioning the company favorably even as investors debate increasing competition across the AI chip market.He also noted that many long-only investors remain underweight NVIDIA despite the stock's recent rally.Muse said NVIDIA still appears inexpensive relative to its expected earnings growth and called it "the cheapest name" in his coverage universe based on forward earnings estimates.The analyst said Cantor Fitzgerald would "wholeheartedly" buy NVIDIA stock ahead of earnings, after earnings and throughout 2026 and 2027.China Headlines And Earnings Drive MomentumInvestor sentiment improved after reports indicated the U.S. cleared several Chinese firms to purchase NVIDIA's H200 AI processors, reviving optimism surrounding potential China-related sales growth.Options traders also increased positioning ahead of NVIDIA's earnings release. SpotGamma founder Brent Kochuba told CNBC on Friday that markets are attempting to reprice China reopening to NVIDIA.NVIDIA shares have rallied sharply in recent weeks as investors continue betting that AI infrastructure demand and geopolitical developments could support another phase of growth for the company.Earnings And Analyst OutlookNVIDIA is scheduled to report quarterly results on May 20.Wall Street expects earnings of $1.76 per share, up from 96 cents a year earlier. Revenue is projected at $79.08 billion, compared with $44.06 billion in the prior-year period.The stock trades at about 46 times forward earnings, reflecting a premium valuation relative to peers.The analyst consensus rating on NVIDIA remains Buy, with an average price forecast of $286, according to recent Wall Street data.Recent analyst actions include: