NVIDIA Corporation (NVDA-Q) — Stockchase (2024)

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What is NVDA Q? ›

Nvidia Corp (NVDA-Q)

Highlights and Key Points: Nvidia Stock Forecast 2024-2030

Capital expects a price range of $996 to $1 850. Long-term forecast for 2026-2030: projected steady growth, with expectations of reaching $2,088 by the end of 2026 and continuing to climb in subsequent years​​.

Nvidia is one of the Magnificent Seven stocks that led the market in 2023 and much of this year. Some of these tech titans are customers that rely on Nvidia's advanced chips. Nvidia is also one of the stocks that many analysts believe will outperform the market in 2024.

Nvidia stock prediction for October 2024. The forecast for beginning 122 dollars. Maximum price 146, minimum 106.

The stock's Street-high target price is $200, which is over 67% higher. Looking at the current scenario, I believe Nvidia could still deliver strong double-digit returns by the end of 2025, as the AI investment spree is showing no signs of tapering off.

In support of President Biden's executive order on AI, the U.S. government will use an NVIDIA DGX SuperPOD to produce generative AI advances in climate science, healthcare and cybersecurity. The executive order, issued in October, is aimed at ensuring U.S. leadership in AI and managing its risks.

Nvidia stock has delivered a total return of more than 27,000% over the last decade. That means that if you invested $1,000 in the stock 10 years ago and held onto your position, your holdings would now be worth more than $271,000. NVDA Total Return Level data by YCharts.

Nvidia's revenue growth will slow from the triple-digit pace at which it has been growing recently. However, given the heavy demand for Nvidia's chips and the spending commentary from large customers, it seems plausible the company could grow its revenue by 30% to 50% a year over the next three years.

However, at 21% below its all-time high in June, Nvidia's shares remain a compelling option for long-term-minded investors. Despite recent declines, Nvidia hasn't given any indication that its earnings won't continue soaring, thanks to its lead in the chip market.

Why is Nvidia dropping? ›

Shares in the California-headquartered chip designer Nvidia have fallen after investors were worried by signs of slowing growth, despite the artificial intelligence chip-manufacturing company posting a 122% rise in second-quarter revenues compared to last year.

SMCI Stock – A Dominant Player in the AI Server Market

Super Micro manufactures unfaltering AI servers required to mount AI chips that semiconductor companies sell. Super Micro recorded $14.94 billion in sales in fiscal 2024, up 110% year over year.

Nvidia stock is losing ground in conjunction with an underwhelming jobs published by the U.S. Labor Department today. Recent news about an investigation into the company by the Department of Justice (DoJ) on antitrust grounds is also playing a role in the pullback.

CEO Jensen Huang reassured investors that Nvidia's core strengths in AI and GPU technology will continue to drive growth. Huang pointed to Nvidia's strategic partnerships and product innovations as evidence that the company is well-prepared to bounce back.

The good part is that Nvidia is expected to clock annual-earnings growth of 52% for the next five years. Based on the company's fiscal 2025 earnings-per-share estimate of $2.84, its bottom line could jump to $23 per share after five years.

The GeForce RTX 2070 SUPER Max-Q is a mobile graphics chip by NVIDIA, launched on April 2nd, 2020. Built on the 12 nm process, and based on the TU104 graphics processor, the chip supports DirectX 12 Ultimate. This ensures that all modern games will run on GeForce RTX 2070 SUPER Max-Q.

NVDA (Non-Visual Desktop Access) allows blind and vision impaired people to access and interact with the Windows operating system and many third party applications.

NVIDIA cuQuantum is an SDK for accelerating quantum circuit simulation. Built to accelerate all circuit simulation frameworks and integrated into Cirq, Qiskit, Pennylane, and more, cuQuantum allows researchers to simulate ideal or noisy qubits with scale and performance.

However, Nvidia still offers the better value between the two stocks. In addition, with Nvidia generating free cash flow of $15 billion last quarter compared to AMD's $379 million, the choice is a no-brainer.