Nvidia stock has bounced back from a major crash earlier this year, reclaiming its position as the most valuable company globally. Despite trading at all-time highs, long-term growth catalysts could push shares further, with analysts forecasting up to 400% gains. Big tech’s massive chip spending spree is a significant driver for Nvidia’s growth, especially in AI applications.

With nearly half of its revenue coming from the U.S., Nvidia eyes a $50 billion opportunity in China. A new agreement grants the company access to the Chinese market by remitting 15% of its China sales to the U.S. government. Quantum computing presents a potential growth catalyst for Nvidia, with applications expected to revolutionize industries like finance and energy.

Investors may be underestimating Nvidia’s potential for sustained valuation expansion, given its strong position in AI infrastructure and emerging technologies. Despite a compressed forward P/E ratio, Nvidia’s growth prospects in data center spending, AI software development, China market access, and quantum computing could drive substantial long-term gains. Check out the 10 best stocks recommended by Stock Advisor for potential monster returns.

Read more at Nasdaq: This Artificial Intelligence (AI) Stock Just Hit a New High, and It’s Still Undervalued