$NVIDIA Corp(NVDA)$ Number 1️⃣ on Tiger Daily 🔥 Stocks Most Searched 🌟🥇🌟⭐️
Zacks Rank 💪 Strong Buy
Currently off from Daily uptrend. Expecting some resistance or pull back to happen around 0.5, retract level – $809 price range. Think anything below $850 is a buy zone. LT price $1000 before the next earnings release in 43 days.
The last time everyone was pointing out H & S top it failed and sparked a massive run.
Shares of chip giant Nvidia are up over 72% year-to-date. Further, it has gained about 210% in one year. While NVDA stock has appreciated a lot, Morgan Stanley analyst Joseph Moore still views the company as the best investment to ride the artificial intelligence (AI) wave. Moore is a five-star analyst, with an average return of 11.5%. He retained a Buy rating on NVDA stock on April 9 and increased the price target to $1,000 from $795, implying 17.16% upside potential from current levels.
This shouldn’t surprise much, as NVDA’s CEO, Jensen Huang, remarked about a year ago that the adoption of AI has reached an inflection point, and NVIDIA AI serves as the operating system of AI systems. This indicated that Nvidia is well-positioned to capitalize on AI demand and could witness solid growth as the deployment of this transformative technology increases.
Looking ahead, Moore expects NVDA to deliver strong revenue growth fueled by hyperscalers’ expansion of data centers. Notably, during the Q4 conference call, Nvidia’s leadership highlighted the rapid transition of the large installed base of data center infrastructure from general-purpose to accelerated computing, which provides significant opportunities for the company. Furthermore, NVDA is strategically pricing its latest AI chips to enhance market penetration and appeal to diverse users.
Nvidia stock has gained significantly in value. However, its leadership in the AI space, new product launches, and large addressable market keep analysts bullish about its prospects.
Nvidia stock sports a Strong Buy consensus rating based on 39 Buy and two Hold recommendations. Analysts’ average price target on NVDA stock is $989.53, implying 15.93% upside potential from current levels.
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It sudden droped and bounced immediately
Well time for NVDA to pullback, just went up too much…
Massive squeeeze incoming .