To The Moon

🌟🌟🌟$NVIDIA Corp(NVDA)$  share price has dropped 10.8% since it hit its all time high of USD 974.00.   On Friday the US market has pulled back from the recent rally.  This could be due to investors taking profits.  Other Semiconductor stocks also fell for the week with the exception of $Advanced Micro Devices(AMD)$  which was up 2.1% on Friday.  But in the past 5 days, AMD was down almost 6% while $Taiwan Semiconductor Manufacturing(TSM)$  was down 4.6% for the week.  $Intel(INTC)$  has dropped 2.5% for the same duration.   $Semiconductor Bull 3X Shares(SOXL)$  has dropped 8.4% for the week. 

There has never been a stock like Nvidia before in Wall Street.  Due to the AI rally, Nvidia has  gone from USD 1 Trillion to USD 2.2 Trillion in just 9 months, the fastest ever recorded speed for a rising stock. Nvidia has also broken the record of the biggest single day gain  in market capitalisation of USD 277 billion.    Nvidia has gone from a low of just USD 238.94 in 52 weeks to USD 974.00, a phenomenal growth.  It is all because of the high demand for its specialised AI Chips used for machine learning. 

Next week starting on  March 17 is the much anticipated Nvidia GTC 2024.  GTC stands for GPU Technology Conference.  This is a major event that will see a gathering of the world's best developers, engineers, researchers, inventors and IT professionals.  Topics will focus on AI, computer graphics, data science, machine learning and Autonomous machines. 

Nvidia GTC 2024 is a 5 day event held in San Jose California.  The AI Conference and Expo is slated for 4 days.  The spotlight will be on Jensen Huang, CEO Extraordinaire of Nvidia who will be making his keynote address on March 18. 

Nvidia will introduce the latest product offerings such as the Hopper Architecture for AI inferencing with the Blackwell architecture, the B100. 

For those who are interested, you can attend the Nvidia GTC virtually for free to access sessions on demand. 

Will Nvidia Hit USD 1000 next week?  No one, not even the experts can say for sure.  But analysts are predicting that Nvidia will grow its earnings by 30% per year over the next 5 years. 

According to Tipranks, Wall Street Analysts are bullish on Nvidia with an average Target price of USD 909.49.  However Rosenblatt has a high Target price of USD 1400 overtaking Loop Capital's Target price of USD 1200.  That is a 59% upside potential based on Rosenblatt's Target Price. 

The bottom line on Nvidia is that this amazing company is poised to deliver solid revenue growth, higher earnings and strong cash flow on the back of soaring demand for its GPUs.  These GPUs power AI solutions across diverse sectors and industries.  This should support the upward trend in Nvidia stock and reward its investors in the long term. 

The upcoming GTC event is a potential catalyst for Nvidia.  It will showcase Nvidia's technological prowess and outline its future map for growth.  

Next week is also the  FOMC meeting and all eyes will be focused on Chairman Jerome Powell as to when interest rates will be cut.  There could be volatility in the markets. 

Whatever happens Nvidia has captured the imagination of many people and created history by its phenomenal growth in revenue and share price.  It leads the AI rally and will continue to grow exponentially in the future as this is just the dawn of the AI revolution which will change our lives like never before. 

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