Nvidia stock has seen a massive 196% surge since last year, far exceeding initial predictions. Analysts expected revenue of $42.9 billion for fiscal 2024, but the company ended up with $60.9 billion. With continued growth in AI and GPU markets, Nvidia is expected to maintain its momentum. CEO Jensen Huang believes that the demand for AI will continue to drive growth, with a projected 31% annual increase in the GPU market through 2032. The company’s dominance in AI GPUs and PC GPUs positions it for continued success. Analysts project a 43% annual earnings growth rate over the next five years, with a potential stock price increase of 78% to $210. With Nvidia’s strong positioning and growth potential, it is likely to surpass even the highest street price targets in the coming years.
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https://www.fool.com/investing/2024/06/28/how-high-can-nvidia-stock-go/
