Where Will Nvidia Stock Be In 1 Year?
The past year has been a disappointing one for Nvidia (NASDAQ: NVDA) investors. Shares of the once high-flying chipmaker have fallen off a cliff and lost 33% of their value over the past 12 months, which seems deserved as it has lost its wheels amid slowing personal computer (PC) sales. But recent stock price action indicates that investors have been using the sharp decline to add to their long positions.
Nvidia stock is up 40% over the past three months, outpacing the 5.6% appreciation in the S&P 500 index over the same period. Analysts are also upbeat about the stock's prospects over the next year. Nvidia sports a 12-month median price target of $200 as per a consensus of 38 analysts, which points toward a 18.5% upside over the next year. But will Nvidia stock be able to live up to analysts' expectations and rise impressively over the course of the coming year, or will it disappoint once again? Let's try to find out.
Source Fool.com
