Nvidia’s stock split has caught the attention of Wall Street analysts, who are adjusting their price targets in response to the company’s impressive performance in the AI space. With Nvidia’s chips powering the AI revolution, the stock has seen significant gains, up 215% from last year. The recent 10 for 1 stock split has further fueled interest in the company, with analysts like Hans Mosesmann of Rosenblatt Securities raising their price target to $200, representing a potential 53% upside for investors and putting Nvidia’s market capitalization on track to reach $5 trillion.
Mosesmann highlights the importance of Nvidia’s software offerings, noting that the company’s hardware is complemented by software that enhances performance. This software will play a crucial role in driving future sales growth and tapping into the expanding market for AI software, which could be worth $13 trillion by 2030 according to Cathie Wood of Ark Invest. Nvidia’s upcoming Blackwell processors are also anticipated to solidify the company’s position as a leader in the AI chip industry.
Despite Nvidia’s premium valuation at 51 times forward earnings, the stock is considered attractive given its exceptional historical performance, with gains of 27,450% over the last decade. As the company continues to innovate and expand its presence in the AI space, analysts believe that Nvidia stock remains a strong buy for investors looking to capitalize on the company’s growth potential in the years ahead.
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https://www.fool.com/investing/2024/06/19/is-nvidia-stock-going-to-200-in-the-wake-of-its-10/
