1 Simple Reason Why Nvidia Stock Could Keep Crushing the Market
It is no secret that artificial intelligence (AI) has supercharged Nvidia (NASDAQ: NVDA) in recent quarters, triggering eye-popping growth in the company's revenue and earnings as tech giants race to get their hands on its graphics processing units (GPUs) for training and powering AI models.
This explains why buyers face wait times of 36 weeks to 52 weeks to get delivery of Nvidia's AI-focused A100 and H100 processors. But it is worth noting that the semiconductor specialist is looking to aggressively increase production of its AI GPUs, which is why customers such as Meta Platforms (NASDAQ: META) are expecting to get their hands on much larger numbers of those chips this year.
According to Meta Platforms CEO Mark Zuckerberg, the social media giant expects its arsenal of Nvidia's flagship H100 graphics cards to hit 350,000 units by the end of 2024. Market research firm Omdia estimates that Meta received 150,000 H100s in 2023. If that estimate is accurate, Zuckerberg's remarks indicate that Meta expects to receive an additional 200,000 units of this processor in 2024.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 9 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 16.17% compared to the current price of 430.4 € for Meta Platforms Inc..
