Is Nvidia Stock Going to $1,350? 1 Wall Street Analyst Thinks So
Artificial intelligence (AI) went viral early last year and shows no signs of letting up. Nvidia (NASDAQ: NVDA) supplies the graphics processing units (GPUs) that underpin the technology, and demand continues unabated. That said, some investors still worry that looming competition, demand in China, or uneven adoption could derail the stock's meteoric rise.
However, given its expanding opportunity, one Wall Street analyst thinks investors continue to underestimate Nvidia's growing AI potential.
analyst Frank Lee reiterated his buy rating on the stock and raised his price target to $1,350. That represents potential gains for investors of 49% over the coming year compared to the stock's closing price on Monday. The analyst suggests that Nvidia's sales and profits will be more robust than investors expect.
Source Fool.com