From Nasdaq: 2024-11-18 15:05:00

NVIDIA Corporation’s GPUs are now leading in the AI market, resulting in the company being added to the Dow Jones Industrial Average, replacing Intel. NVIDIA’s shares have surged 186.8% this year, while Intel’s have dropped 51.5%. NVIDIA’s dominance in AI technology and its upcoming Blackwell processors are expected to drive further growth in its stock price.

NVIDIA’s entry into the Dow will likely lead to increased demand for its shares from mutual funds and ETFs, boosting its stock price. The company’s upcoming Blackwell processors are expected to be in high demand, with major tech companies like Amazon, Microsoft, Meta, and Tesla likely to adopt them. NVIDIA’s strong position in the AI chip market further supports its long-term growth potential.

Brokers have raised the short-term price target for NVIDIA stock to $155.43, with the highest target at $200, indicating a potential upside of 36.3%. The stock is trading above its short-term and long-term moving averages, signaling a bullish trend. With a forward earnings multiple lower than its industry peers and a Zacks Rank #1 (Strong Buy), NVIDIA presents a compelling investment opportunity.



Read more at Nasdaq: This Is Why NVIDIA Joined the Dow; And Why It’s Time to Buy