Analysts Forecast More Than 30% Upside for Nvidia. Is the Stock a Buy?
Investors hoping for outsize gains over the next year may look toward Nvidia (NASDAQ: NVDA). Nvidia dominates the semiconductor market when it comes to chips designed for artificial intelligence (AI) purposes, and even with the stock's massive move higher, analysts project further upside over the next 12 months.
However, stocks often fail to meet analyst expectations, and a 200% increase over the last year should rightly leave investors questioning how much more near-term upside they might have with Nvidia stock. Hence, investors should take a closer look before deciding whether to buy.
Nvidia stock trades at just under $500 per share. It has been among the best performers of 2023 amid heightened interest in AI and the company's ability to support that technology.
Source Fool.com
