Average Price Target Of 148396 With High Of 249473

Nvidia Stock Price Forecast 2024: Analysts Predict Strong Growth

Average Price Target of $148,396 with High of $249,473

Impenetrable Moat Propels NVDA to $10 Trillion Valuation by 2030

WALL STREET, June 7, 2024 - Analysts are bullish on Nvidia stock (NVDA), forecasting a strong performance in 2024. According to a survey of 46 Wall Street analysts, the average twelve-month stock price forecast for Nvidia is $148,396, with a high forecast of $249,473. This represents a significant upside potential of 258% from the current price of $400. The analysts' optimism is driven by Nvidia's impenetrable moat, which includes its dominance in the graphics card market and its strong position in artificial intelligence (AI) and machine learning. With this competitive advantage, Nvidia is expected to continue to grow its market share and drive its revenue and earnings higher. In addition, analysts believe that Nvidia's technology is well-positioned to benefit from the growing trend of cloud computing and data analytics. As more businesses move their operations to the cloud and generate large amounts of data, Nvidia's graphics processing units (GPUs) will be essential for processing this data and delivering insights. One analyst, who spoke on condition of anonymity, said that he believes Nvidia is poised to reach a $10 trillion valuation by 2030. He cited the company's strong execution, its ability to innovate, and its leadership in emerging technologies as key factors driving his optimism. Investors should note that these forecasts are based on analysts' opinions and are not guaranteed. However, the analyst consensus is clear: Nvidia is a well-positioned company with significant growth potential.