Nvidia’s emergence as the frontrunner to become the world’s first $4 trillion stock has been sustained by the generative AI boom.
From improbable to inevitable. With no signs of slowing, NVDA’s potential appears endless. The third quarter of 2024 began with the same level of momentum on display for Nvidia as KeyBanc analyst John Vinh raised his target price on the stock to $180. This boost of 33% from current levels would see the stock surpass the $4 trillion market capitalization mark and become the first company to do so. These lofty expectations encapsulate the meteoric rise of the semiconductor firm.
of 42% over the next 10 years into a $1.3 trillion market by 2032. Nvidia’s status as a market leader in providing AI chipsets ensures that the company will be a driving force in this growth. Strength in Fundamentals Although the long-term sustainability of the generative AI frenzy has been called into question, there’s little doubt that Nvidia has showcased tangible fundamentals to support its impressive Wall Street performance in recent months.
of 42% over the next 10 years into a $1.3 trillion market by 2032. Nvidia’s status as a market leader in providing AI chipsets ensures that the company will be a driving force in this growth. of 42% over the next 10 years of 42% over the next 10 years Strength in Fundamentals Although the long-term sustainability of the generative AI frenzy has been called into question, there’s little doubt that Nvidia has showcased tangible fundamentals to support its impressive Wall Street performance in recent months. In May, the semiconductor giant reported revenues that tripled to $26.04 billion year over year , weighing in well above analyst forecasts. tripled to $26.04 billion year over year tripled to $26.
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