Will Nvidia Be a Trillion-Dollar Stock by 2027?
Share prices of Nvidia (NASDAQ: NVDA) are down 46% year to date. That puts Nvidia's market cap (share price times total shares outstanding) at $390 billion at the time of writing, so the stock would need to more than double to reach a $1 trillion market cap.
At a recent investor conference, Nvidia CEO Jensen Huang provided some insights about his company's growth opportunity with two new data centers coming out. The opportunity selling advanced chip hardware and software systems to these artificial intelligence-based factories could be enough to push Nvidia's stock price higher over the next five years.
Nvidia's data center business has grown fivefold over the last four years, but the best seems yet to come. At the Bank of America Global Technology Conference on June 7, Huang told analysts, "We're in an early adoption phase of machine learning across all of these data centers," implying that Nvidia can grow the data center segment for a long time.
Source Fool.com