Nvidia, a leading semiconductor company, has not only been a key player in the current artificial intelligence (AI) boom but has also impressed investors with its remarkable performance in the stock market over the past 20 months. The company’s market capitalization has surged by over $2.4 billion since November 2022, and its stock price has soared by 198.22% in the last year of trading.
Despite this impressive growth, analysts are optimistic about Nvidia’s future prospects, with many revising their price targets to predict even higher highs. The company continues to receive a ‘strong buy’ rating on the stock analysis platform TipRanks, despite the average price target suggesting a slight downside.
Nvidia’s stock has consistently outperformed 12-month forecasts in less than a year, leading to renewed speculation on how high the company can go. Following a recent 10-for-1 stock split, analysts from firms like Oppenheimer and Argus predict that Nvidia could reach $150 within the next 12 months.
Some experts believe that Nvidia could soon surpass $130, with projections hinting at even higher levels. However, others, like economist Harry Dent, warn of a potential market crash that could lead to a significant decline in Nvidia’s stock price.
In the midst of these varying opinions, the immediate goal for Nvidia’s stock is to break through the psychological resistance level at $130, as it recently attempted to do before correcting back towards $128. Whether Nvidia can continue its upward trajectory remains to be seen, but the company’s strong performance and potential for growth have captured the attention of investors and analysts alike.
