Where Will Nvidia Stock Be in 5 Years?
Nvidia (NASDAQ: NVDA) stock has crushed the broader market handsomely over the past five years with eye-popping gains of more than 1,800% -- which is significantly higher than the S 500 index's gains of 71% -- and a big reason behind the chip giant's terrific surge is its dominant position in the artificial intelligence (AI) chip market.
However, can Nvidia sustain its AI-driven growth for the next five years and deliver more gains to investors? Let's find out.
Allied Market Research estimates that the global AI chip market was worth just under $15 billion in 2022. However, by 2032, the market research firm expects sales of AI chips to generate annual revenue of nearly $384 billion. Nvidia is in the driver's seat in this space, controlling an estimated 94% of the AI chip market last year, per Vijay Rakesh of Mizuho Securities.
Source Fool.com
