Nvidia’s stock price has risen more than 233% in the past year, and tech bulls say the stock could rise even further: “…the stock price will double in the next few years.” – NVIDIA (NASDAQ:NVDA)

Nvidia Inc. NVDA Shares rose 0.8% to close at $138 on Friday, giving the company a market capitalization of more than $3 trillion, but bullish experts say the stock could rise further.

Expert Comment: Ram Ahluwalia, CEO of Lumida Wealth Management, is reportedly optimistic about the company’s valuation reaching $4 trillion.

“There’s no question about it. Demand for GPU chips is strong and early adopters are starting to see some ROI,” Ahluwari told Yahoo Finance.

T. Rowe Price portfolio manager Tony Wang reportedly shared his confidence.

Dan Niles, founder of Niles Investment Management, says, “We need several more years of AI investment before the AI ​​landscape becomes saturated or more mature.” “I think Nvidia’s revenue will double over the next few years, and I think the stock price will double over the next few years,” Niles told Yahoo Finance.

“…as model builders (such as OpenAI) solve for high throughput and low latency, the demand for inference computing is likely to increase exponentially. Importantly, underpinned by a full-stack approach, NVIDIA is leading the way in this area of ​​inference. We believe we are well-positioned to capture growth opportunities,” Goldman Sachs said in a report in the Financial Times. Sachs has a price target of $150.

Boffa Securities on Friday maintained their rating on the stock at “buy” and raised their price target for the company from $165 to $190.

In fact, NVIDIA has a consensus price target of $234.49, based on ratings from 38 analysts.

Why it matters: NVIDIA stock is up nearly 186.5% year-to-date, according to data from Benzinga Pro. The company’s market capitalization is currently approximately $3.39 trillion.

As of its current valuation, Apple is the only American company with a higher market capitalization than Nvidia. But even Apple’s valuation falls short of $4 trillion ($3.57 trillion).

Nvidia stock has risen more than 233% over the past year, with shares jumping from $41 to $138. Meanwhile, ETFs that track NVIDIA, such as GraniteShares 2x Long NVDA Daily ETF NVDL and Direxion Daily NVDA Bull 2X Share NVDUachieved a return of at least 440% during the same period.

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