From Nasdaq:



Nvidia has had a very successful year in 2023, with their stock tripling in value. The company’s revenue and earnings have skyrocketed due to high demand for their graphics cards which play a significant role in training artificial intelligence models. Analysts expect the stock to continue to rise in 2024, with a median 12-month price target of $650 for a 35% increase from current levels. Nvidia is projected to continue experiencing strong growth in 2024, driven by increased demand for its AI graphics cards and plans for expanding manufacturing capacity. The company’s data center business is also expected to generate significant revenue. Analysts anticipate a 60% increase in earnings for fiscal 2025, leading to the potential for significant gains in the stock price. Overall, investors are advised to continue holding Nvidia stock in their portfolios as there is a possibility for it to double in value next year.



Original: Here’s Why Nvidia Stock Could Double in 2024