How Nvidia stock could hit $284 in 2026

Nvidia (NASDAQ: NVDA) stock experienced a powerful move higher recently. Since late March, it’s surged from $165 to around $210 – a gain of nearly 30%.

I think it has the potential to go much higher in the medium term though. Here’s a look at how it could potentially rise to $284 in 2026.

Expect strong growth

Nvidia’s growth in the near term is likely to be very strong. We know this because hyperscalers such as Amazon and Microsoft have announced that they will be spending over $600bn on artificial intelligence (AI) capex this year alone. A large chunk of this is likely to find its way into Nvidia’s coffers. Because its AI chips are deemed best-in-class.

Another reason we know that growth’s likely to be strong is that CEO Jensen Huang recently told investors that the company is expecting a whopping $1trn in Blackwell (its current generation AI chip) and Rubin (the next generation chip) platform sales through 2027. To put this in perspective, the company’s sales last financial year were $216bn, so that forecast is huge.

A share price projection

Now, for this financial year ending 31 January 2027 (FY27), analysts expect the chip powerhouse to generate earnings per share (EPS) of $8.28 (versus $4.92 last year). That means at today’s share price of $210, we’re looking at a forward-looking price-to-earnings (P/E) ratio of about 25.4 (which isn’t high at all, given the level of growth).

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