Is Nvidia Stock Going to $1,100? 1 Wall Street Analyst Thinks So.
The advent of artificial intelligence (AI) has caused a paradigm shift in the direction of technology since early last year, and arguably, no company has benefited more than Nvidia (NASDAQ: NVDA). The company's graphics processing units (GPUs) are the gold standard when it comes to AI, but some fear the competition is ramping up.
One Wall Street analyst thinks investors are missing the forest for the trees.
Goldman Sachs analyst Toshiya Hari retained Nvidia on the company's "Conviction List," maintaining his buy rating on the stock and raising his price target to $1,100. That represents potential gains for investors of 22% over the coming year, compared to the stock's closing price on Wednesday. The analyst posits that Nvidia's processors will "remain the de facto industry standard for the foreseeable future."
Source Fool.com
