Nvidia stock has fallen over 10% from its late March highs, correcting lower after a strong runup. Bank of America analysts say the recent sell-off doesn't change their bullish narrative on Nvidia. The firm remains confident in Nvidia's ability to maintain and gain market share in the AI chip space. BofA maintains its $1,100 price target, implying a 26% upside from current levels. Inflation, competition, volatility, and earnings season trimming drove the decline. Google and Intel's new chips pose a limited threat to Nvidia's dominance, in their view.