The Bullish Predictions
Nvidia Corp NVDA shares closed up 0.8% at $138 on Friday, making a remarkable climb in the past year, surging over 233%. This surge has taken its market capitalization to over $3 trillion, igniting optimism among tech bulls for further growth in the stock.
Expert Insights
CEO Ram Ahluwalia of Lumida Wealth Management stated an optimistic outlook, predicting a $4 trillion valuation for the company. Meanwhile, industry experts like T. Rowe Price portfolio manager Tony Wang and Dan Niles, founder of Niles Investment Management, foresee substantial growth in Nvidia’s revenues leading to a potential doubling of the stock value over the coming years.
Market Analysts’ Views
Goldman Sachs sees great potential for Nvidia in the Inference compute market, with a prediction of the stock reaching $150. Bofa Securities, maintaining a ‘Buy’ rating on the stock, recently raised its price target from $165 to $190. Currently, the consensus price target for Nvidia stands at $234.49 based on the analysis of 38 analysts.
Historical Context
The significant year-to-date increase of nearly 186.5% in Nvidia’s stock price, as reported by Benzinga Pro, places the company’s market cap at approximately $3.39 trillion. This surge positions Nvidia as having the second-highest market cap among American companies, trailing only Apple, which stands at $3.57 trillion.
ETF Performance
ETFs tracking Nvidia, such as GraniteShares 2x Long NVDA Daily ETF (NVDL) and Direxion Daily NVDA Bull 2X Shares (NVDU), have witnessed significant gains, outperforming with increases of at least 440% within the same period as Nvidia’s remarkable stock surge.
Market Potential
The consistent growth trajectory of Nvidia’s stock, aligning with the current market demands for GPU chips and continued AI investments, reflects the company’s strategic positioning and the positive outlook from both experts and market analysts.
