Wall Street Forecasts Nvidia Stock Price for the Next 12 Months
In a year bursting with excitement for the leading semiconductor company, Nvidia (NASDAQ: NVDA), Monday, June 10 stood out as a momentous day as the company’s stock price plummeted by 90%, seemingly out of the blue. However, this drastic fall from over $1,000 to just over $100 was not a cause for alarm but rather a result of a 10-for-one stock split that was announced by the company in May.
While this decision may not have had as significant of an impact as it would have had in the past due to the prevalence of fractional stock ownership, it still provided a boost to Nvidia’s momentum. Analysts have continued to express optimism towards the blue-chip chipmaker, with some suggesting that it could soon account for between 10 and 15% of the S&P 500.
The general sentiment remains positive towards NVDA stock, with a majority of experts rating it as a ‘strong buy’ on the stock analysis platform TipRanks. Despite this, there is some caution in the air as analysts are wary of whether Nvidia can sustain the rapid growth it has experienced in recent months.
The 12-month price target for Nvidia currently stands at $122.69, just 1.49% above the current price. While some analysts have revised their price targets slightly lower, they still remain bullish on the stock’s potential. Overall, the forecasts for Nvidia stock remain optimistic, with expectations that it will continue to be a strong performer in the market.
Disclaimer: The information provided in this article should not be taken as investment advice. Investing in stocks carries risks, and individuals should carefully consider their options before making any investment decisions.
