Why The Nvidia Stock Price Forecast Is Off The Charts Right Now

Analysts have aggressively raised their price targets for the high-speed computer chip manufacturer NVIDIA Corp. (Nasdaq: NVDA).

Vivek Arya, managing director at Bank of America Corp. (NYSE: BAC), bumped his NVIDIA stock price forecast from $800 to $900 this week. Reasons included the adoption of Artificial Intelligence driving strong revenue growth at the NVIDIA. NVIDIA's data center sales could also triple over the next few years.

For a brief moment, it was the highest price target on Wall Street.

The very next day, Raymond James Financial Inc. (NYSE: RJF) analyst Chris Caso raised his estimate from $750 to match Bank of America at $900 a share. He also cited data center growth and noted that there are no real threats to NVIDIA’s dominance in the market for artificial intelligence chips.

As optimistic as Wall Street has been on the company, NVIDIA has still exceeded estimates for the last four quarters.

The question now becomes, "Should we buy shares of NVIDIA?" Here’s what we make of this NVIDIA stock price prediction.

Why Trust the BoA NVIDIA Stock Price Forecast?

These analysts are on the money when it comes to NVIDIA’s short– and long-term potential. NVIDIA stock will most likely provide a massive windfall for investors in a few years.

It leads the fastest-growing segments of the chip market. It is involved in gaming, cryptocurrency mining, artificial intelligence, autonomous cars, the connected car, and pretty much every other hot segment of the technology marketplace.

Basically, if you want to bet on the future, you need to own shares of NVIDIA.

NVIDIA chips and GPUs drive advances in entertainment, education, healthcare, and robotics.

The company is a big part of the connected car. It will also be a major player in driverless cars. Additionally, NVIDIA products are a big part of the Smart Home and Internet of Things. The company will also play a key role in building Smart Cities across the United States.

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Disclaimer: Any performance results described herein are not based on actual trading of securities but are instead based on a hypothetical trading account which entered and exited the suggested ...

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