Nvidia became the world’s most valuable company, surpassing Microsoft and Apple on Tuesday. The chipmaker’s market value reached $3.34 trillion, ahead of Microsoft at $3.33 trillion and Apple at $3.28 billion. Trading was closed on Wednesday for the Juneteenth holiday, allowing Nvidia to retain its top position for at least a day.
Analysts are optimistic about Nvidia’s future. Rosenblatt’s Hans Mosesmann raised the price target for Nvidia shares to $200, the highest on Wall Street, citing the potential for the company’s software to complement its hardware offerings and drive future growth. Wall Street’s average forecast for Nvidia’s earnings in 2026 is $4.10.
Nvidia seems to be focusing on expanding its software capabilities, recently agreeing to acquire Shoreline.io, a startup for software developers, in a deal reportedly worth around $100 million. This move aligns with Mosesmann’s belief that software will play a significant role in Nvidia’s future sales and valuation.
Despite the positive outlook, Nvidia is yet to comment on its future plans. It remains to be seen how the company will continue to innovate and maintain its position as the most valuable company in the world.
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https://www.barrons.com/amp/articles/nvidia-stock-price-target-record-a37b259a