Nvidia stock has surged over 20% in 5 weeks due to optimism about Blackwell AI chip

From Nasdaq: 2024-10-17 04:52:00

Nvidia (NASDAQ: NVDA) is riding the wave of the AI revolution, with its stock price soaring over 20% in the last five weeks. Wall Street analysts are bullish on Nvidia’s Blackwell AI chip, expecting further gains. Market response to Blackwell’s capabilities has been overwhelmingly positive, with key tech giants already onboard.

Analysts foresee a potential 14% upside for Nvidia’s stock, with one predicting a 55% surge. Despite a slight decline in enthusiasm among analysts due to recent price gains, Nvidia’s dominance in the AI chip market remains strong. Morgan Stanley named Nvidia a “Top Pick,” citing continued growth opportunities.

As Nvidia’s Blackwell chips begin to drive sales and show increasing potential, analysts may revise their price targets upward. With the AI revolution still in its early stages, Nvidia is poised to remain a key player. Investors should consider seizing the opportunity before it’s too late, as Nvidia’s potential for further growth is promising.

For those who may have missed out on other successful stock opportunities, now is the perfect time to capitalize on the potential of Nvidia and similar companies. The past success of “Double Down” recommendations for Amazon, Apple, and Netflix demonstrates the potential for substantial returns. Don’t miss out on the chance to invest in these promising companies.



Read more at Nasdaq: Nvidia Stock Has Soared Over 20% in 5 Weeks. Here’s Why Wall Street Thinks It’s Still a Buy.