Why Nvidia Stock Is an Unexpected Value Play for 2024

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Why Nvidia Stock Is an Unexpected Value Play for 2024

InvestorPlace01-02

Nvidia (NVDA) remains the undisputed heavyweight champion of artificial intelligence (AI) processor distributors in the U.S.Furthermore, Nvidia might actually be undervalued even after the stock’s ...

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jethro
·01-02
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Henderson Balanced A Inc SGD"},"translate_title":"为什么英伟达股票是2024年意想不到的价值游戏","themeId":"95e3e7595ac2407d82a2e646db9ba6e0","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1},"content_text":"Nvidia (NVDA) remains the undisputed heavyweight champion of artificial intelligence (AI) processor distributors in the U.S.Furthermore, Nvidia might actually be undervalued even after the stock’s powerful rally in 2023’s first half.Investors should seriously consider owning at least a few shares of NVDA stock in 2024.Not only is Nvidia (NASDAQ: NVDA) a top-tier artificial intelligence chip maker, but it’s also among the most successful “Magnificent Seven” companies of 2023. NVDA stock earns a confident “A” grade as Nvidia can remain a durable AI-hardware distributor in 2024 and beyond.After a spectacular first half of 2023, Nvidia stock had difficulty breaking above the key $500 level. This opens up the idea that Nvidia might actually be undervalued. It’s a concept worth considering, especially when investors consider the bullish arguments that a couple of Wall Street experts make.               Nvidia Leads the ‘Most Consequential Growth Vector’Even though NVDA stock had trouble breaking through $500 in late 2023, TD Cowen analyst Matthew Ramsay assigned it an “outperform” rating and a $700 price target. Furthermore, Ramsay called Nvidia his “Best Idea for 2024.”Ramsay’s optimism makes sense when we look at the larger context of the AI revolution. Nvidia, Ramsay contends, is the “leader in the most consequential growth vector of computing arguably ever (and certainly since the advent of the Internet).”Nvidia grew rapidly as the first wave of customers spent money on generative AI hardware. Next year, the wave of AI spending could expand to a much wider range of clients, including very large companies.Moreover, per Barron’s, Ramsay sees Nvidia transitioning from selling AI-enabled microchips to “selling full systems including software.” This will allow Nvidia to “capture a higher percentage of the overall spending on data centers.” Nvidia stock can ride to $700 on the company’s evolution and the AI processor market’s expected expansion.NVDA Stock Is Actually Cheap NowTurning to another analyst, Bernstein’s Stacy Ragson made a statement that will undoubtedly surprise some value-focused investors. Ragson recently declared, “Today Nvidia is in fact the cheapest of the ‘AI narrative’ stocks out there.”Like Ramsay, Ragson assigned NVDA stock an “outperform” rating and a price target of $700. Yet, Ragson’s bullish argument is different from Ramsay’s.Interestingly, Ragson considers Nvidia undervalued based on earnings estimates. “[W]hile forward [earnings] estimates have quadrupled this year as generative AI has boomed, multiples have compressed by almost 2/3 during the same period,” the Bernstein analyst explained.Based on the math, Ragson’s argument seems to have merit. Specifically, Ragson determined Nvidia trades at 25 times the company’s forward (i.e., expected) earnings. This represents Nvidia’s lowest forward earnings multiple since the end of 2018. So, by that measure, the company’s stock shares aren’t overpriced at all.Nvidia Stock: After a Break Above $500, the Sky’s the LimitGoing forward into the new year, investors should expect Nvidia to grow and evolve along with the AI hardware market. If Nvidia stock got stuck at $500 for a while in 2023, that was likely just a temporary roadblock.Besides, investors should consider the argument that Nvidia might actually be undervalued, based on the company’s expected earnings. 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NVDA stock earns a confident “A” grade as Nvidia can remain a durable AI-hardware distributor in 2024 and beyond.</p><p>After a spectacular first half of 2023, Nvidia stock had difficulty breaking above the key $500 level. This opens up the idea that Nvidia might actually be undervalued. It’s a concept worth considering, especially when investors consider the bullish arguments that a couple of Wall Street experts make.               </p><h2 id=\"id_328810397\">Nvidia Leads the ‘Most Consequential Growth Vector’</h2><p>Even though NVDA stock had trouble breaking through $500 in late 2023, TD Cowen analyst Matthew Ramsay assigned it an “outperform” rating and a $700 price target. Furthermore, Ramsay called Nvidia his “Best Idea for 2024.”</p><p>Ramsay’s optimism makes sense when we look at the larger context of the AI revolution. Nvidia, Ramsay contends, is the “leader in the most consequential growth vector of computing arguably ever (and certainly since the advent of the Internet).”</p><p>Nvidia grew rapidly as the first wave of customers spent money on generative AI hardware. Next year, the wave of AI spending could expand to a much wider range of clients, including very large companies.</p><p>Moreover, per <em>Barron’s</em>, Ramsay sees Nvidia transitioning from selling AI-enabled microchips to “selling full systems including software.” This will allow Nvidia to “capture a higher percentage of the overall spending on data centers.” Nvidia stock can ride to $700 on the company’s evolution and the AI processor market’s expected expansion.</p><h2 id=\"id_4030556727\">NVDA Stock Is Actually Cheap Now</h2><p>Turning to another analyst, Bernstein’s Stacy Ragson made a statement that will undoubtedly surprise some value-focused investors. Ragson recently declared, “Today Nvidia is in fact the cheapest of the ‘AI narrative’ stocks out there.”</p><p>Like Ramsay, Ragson assigned NVDA stock an “outperform” rating and a price target of $700. Yet, Ragson’s bullish argument is different from Ramsay’s.</p><p>Interestingly, Ragson considers Nvidia undervalued based on earnings estimates. “[W]hile forward [earnings] estimates have quadrupled this year as generative AI has boomed, multiples have compressed by almost 2/3 during the same period,” the Bernstein analyst explained.</p><p>Based on the math, Ragson’s argument seems to have merit. Specifically, Ragson determined Nvidia trades at 25 times the company’s forward (i.e., expected) earnings. This represents Nvidia’s lowest forward earnings multiple since the end of 2018. So, by that measure, the company’s stock shares aren’t overpriced at all.</p><h2 id=\"id_1972236587\">Nvidia Stock: After a Break Above $500, the Sky’s the Limit</h2><p>Going forward into the new year, investors should expect Nvidia to grow and evolve along with the AI hardware market. If Nvidia stock got stuck at $500 for a while in 2023, that was likely just a temporary roadblock.</p><p>Besides, investors should consider the argument that Nvidia might actually be undervalued, based on the company’s expected earnings. All in all, NVDA stock gets an easy “A” grade and has the potential to move far beyond $500.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nvidia Stock Is an Unexpected Value Play for 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Nvidia Stock Is an Unexpected Value Play for 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-02 14:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/market360/2023/12/why-nvidia-stock-is-an-unexpected-value-play-for-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia (NVDA) remains the undisputed heavyweight champion of artificial intelligence (AI) processor distributors in the U.S.Furthermore, Nvidia might actually be undervalued even after the stock’s ...</p>\n\n<a href=\"https://investorplace.com/market360/2023/12/why-nvidia-stock-is-an-unexpected-value-play-for-2024/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0109392836.USD":"富兰克林科技股A","BK4554":"元宇宙及AR概念","BK4529":"IDC概念","BK4592":"伊斯兰概念","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4587":"ChatGPT概念","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4527":"明星科技股","BK4579":"人工智能","BK4588":"碎股","BK4550":"红杉资本持仓","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4141":"半导体产品","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","NVDA":"英伟达","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0079474960.USD":"联博美国增长基金A","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0080751232.USD":"富达环球多元动力基金A","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD"},"source_url":"https://investorplace.com/market360/2023/12/why-nvidia-stock-is-an-unexpected-value-play-for-2024/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2395704613","content_text":"Nvidia (NVDA) remains the undisputed heavyweight champion of artificial intelligence (AI) processor distributors in the U.S.Furthermore, Nvidia might actually be undervalued even after the stock’s powerful rally in 2023’s first half.Investors should seriously consider owning at least a few shares of NVDA stock in 2024.Not only is Nvidia (NASDAQ: NVDA) a top-tier artificial intelligence chip maker, but it’s also among the most successful “Magnificent Seven” companies of 2023. NVDA stock earns a confident “A” grade as Nvidia can remain a durable AI-hardware distributor in 2024 and beyond.After a spectacular first half of 2023, Nvidia stock had difficulty breaking above the key $500 level. This opens up the idea that Nvidia might actually be undervalued. It’s a concept worth considering, especially when investors consider the bullish arguments that a couple of Wall Street experts make.               Nvidia Leads the ‘Most Consequential Growth Vector’Even though NVDA stock had trouble breaking through $500 in late 2023, TD Cowen analyst Matthew Ramsay assigned it an “outperform” rating and a $700 price target. Furthermore, Ramsay called Nvidia his “Best Idea for 2024.”Ramsay’s optimism makes sense when we look at the larger context of the AI revolution. Nvidia, Ramsay contends, is the “leader in the most consequential growth vector of computing arguably ever (and certainly since the advent of the Internet).”Nvidia grew rapidly as the first wave of customers spent money on generative AI hardware. Next year, the wave of AI spending could expand to a much wider range of clients, including very large companies.Moreover, per Barron’s, Ramsay sees Nvidia transitioning from selling AI-enabled microchips to “selling full systems including software.” This will allow Nvidia to “capture a higher percentage of the overall spending on data centers.” Nvidia stock can ride to $700 on the company’s evolution and the AI processor market’s expected expansion.NVDA Stock Is Actually Cheap NowTurning to another analyst, Bernstein’s Stacy Ragson made a statement that will undoubtedly surprise some value-focused investors. Ragson recently declared, “Today Nvidia is in fact the cheapest of the ‘AI narrative’ stocks out there.”Like Ramsay, Ragson assigned NVDA stock an “outperform” rating and a price target of $700. Yet, Ragson’s bullish argument is different from Ramsay’s.Interestingly, Ragson considers Nvidia undervalued based on earnings estimates. “[W]hile forward [earnings] estimates have quadrupled this year as generative AI has boomed, multiples have compressed by almost 2/3 during the same period,” the Bernstein analyst explained.Based on the math, Ragson’s argument seems to have merit. Specifically, Ragson determined Nvidia trades at 25 times the company’s forward (i.e., expected) earnings. This represents Nvidia’s lowest forward earnings multiple since the end of 2018. So, by that measure, the company’s stock shares aren’t overpriced at all.Nvidia Stock: After a Break Above $500, the Sky’s the LimitGoing forward into the new year, investors should expect Nvidia to grow and evolve along with the AI hardware market. If Nvidia stock got stuck at $500 for a while in 2023, that was likely just a temporary roadblock.Besides, investors should consider the argument that Nvidia might actually be undervalued, based on the company’s expected earnings. All in all, NVDA stock gets an easy “A” grade and has the potential to move far beyond $500.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":7,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}