Nvidia Reaching $1 Trillion Will Be Tricky, But Growth Is Inevitable
Some say NVDA stock could more than triple it's market cap, but until then it still has plenty of upside
Dec 11, 2020, 3:32 pm EDT
December 11, 2020
Nvidia (NASDAQ:
NVDA) is a story unto itself. Buoyed by the familiar catalysts of data centers and graphics processing units (GPUs), NVDA stock is up over 120% year-to-date (YTD) and is one of the biggest domestic chip manufacturers by market capitalization.
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As of Dec. 11, Nvidia is off 13.3% from its 52-week high. That decline could extend, but for several years now, essentially every pullback has been an invitation to embrace this stock. Waiting for Nvidia to be “cheap” is a fool’s errand because, well, it’s basically always expensive. However, there might be some value here — if analysts are correct — because the stock labors around $520 with a median consensus price target closer to $600.