Nvidia Stock Forecast: Price Targets and Analyst Predictions
Analyst Predictions and Price Targets
Analysts have a bullish outlook on Nvidia stock (NVDA) for 2024. Their average price target is $148,396, with a high forecast of $249,473 and a low of $81,049. This represents a potential upside of 258% from its current price of $41,394.
Impenetrable Moat and Projected Valuation
According to tech analyst Mark Mahaney, Nvidia's impenetrable competitive advantage, or "moat," will drive the company to a $10 trillion valuation by 2030. Mahaney believes that Nvidia's dominance in key markets such as gaming, data centers, and artificial intelligence (AI) will continue to drive its growth.
Wall Street Analyst Consensus
A recent survey of 43 Wall Street equity research analysts found that the average 12-month stock price forecast for NVIDIA is $132,632. This consensus estimate is higher than the current stock price, suggesting that analysts are optimistic about the company's future prospects.
Nvidia Stock Outlook for 2024
Analysts are bullish on Nvidia stock due to several factors, including the company's strong competitive advantages, its exposure to high-growth markets, and its continued innovation in AI and other cutting-edge technologies. With a potential upside of 258%, Nvidia stock is an attractive investment opportunity for long-term investors.
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