From Nasdaq:

Nvidia (NVDA) saw a massive 238% surge in its stock last year, outperforming the tech-heavy NASDAQ Composite’s gain of 43%. Analysts anticipate continued growth, pushing the stock even higher, possibly to the street-high target price of $1,100.Wall Street predicts revenue growth of 118% to $58.7 billion, with EPS growth of 268.3% to $12.30 for the full fiscal year 2024.www.barchart.com

In 2023, Nvidia reported a staggering 206% increase in revenue and an adjusted EPS of $4.02 in the third quarter. However, ongoing U.S.-China trade concerns may impact its performance. Management projects a Q4 revenue of $20 billion, with analysts predicting $20.03 billion. Nvidia also expects the release of a new gaming chip in January, designed to comply with the new U.S. export regulations for China.www.barchart.com

Nvidia believes AI will drive second-wave growth and has partnerships in the automotive and electric vehicle market. Analysts predict an increase in revenue and earnings, and Nvidia has a “strong buy” rating on Wall Street with a 35% potential upside over the next 12 months. The company’s shares are trading at 24 times forward estimated fiscal 2025 earnings.www.barchart.com

Nvidia’s legacy as a semiconductor giant is built on its agility, innovation, and strategic diversification. Rivals continue to innovate and compete fiercely, but Nvidia holds a commendable 80% market share in chips. Given the anticipated growth, now might be a good time for investors to raise their stakes in Nvidia, according to Barchart.www.barchart.com



Read more: What Will 2024 Bring For Nvidia Stock?