Wall Street Thinks Nvidia Stock Could Soar 46% in One Year Thanks to Artificial Intelligence (AI). Time to Buy?
If you're looking for the poster child of the artificial intelligence investment trend, look no further than Nvidia (NASDAQ: NVDA). Nvidia has seen a business explosion, and its stock has followed suit, as it has nearly tripled this year. But Wall Street analysts don't think the party is over either. The average analyst has a one-year $625 price target on the stock, indicating about 46% upside.
That's a fantastic gain for any stock to make in one year, which intrigues many investors (including myself). So, is it time to pile in on Nvidia? Or are there other considerations? Let's find out.
Nvidia is a critical component supplier in the AI world. Its graphics processing units (GPUs) are used in AI supercomputers to process mountains of information quickly. Nvidia has known about AI's potential for some time and tailored its product development for this day. As a result, Nvidia's GPUs are best-in-class for hardware used in AI.
Source Fool.com
