Nvidia Stock is on the rise, but can it reach a record high of $1,100? Goldman Sachs weighs in on what to expect. Find out more about the potential for this tech giant’s stock to soar to new heights.
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The Nvidia (NASDAQ:NVDA) gravy train keeps on chugging along, with shares up by 83% in 2024 so far. Goldman Sachs analyst Toshiya Hari, ranked in the top 1% of Street stock pros, remains bullish on the stock. Hari sees positive EPS revisions driving further gains, with a price target raise to $1,100. The Data Center segment performance is expected to be strong, fueled by demand for AI-related Computing and Networking. Hari predicts sequential growth rates of 10%, 17%, and 5% in Nvidia’s Data Center business for FY2Q/3Q/4Q. The Street consensus remains bullish, with 38 Buy ratings and a Strong Buy consensus view. The average price target is $1,008.30, offering potential returns of 11.5%. Investors interested in stocks trading at attractive valuations can check out TipRanks’ Best Stocks to Buy tool for more insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. It is important to conduct your own analysis before making any investment decisions.
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1. Can Nvidia stock reach a record high of $1,100?
– Goldman Sachs expects that it could reach that level in the future, but there is no guarantee.
2. What factors could contribute to Nvidia stock reaching $1,100?
– Factors like strong financial performance, technological advancements, and Market demand for Nvidia products could all play a role.
3. Is it a good time to invest in Nvidia stock?
– Goldman Sachs’s positive outlook on the stock suggests that it could be a good investment opportunity, but it’s always important to do your own research before investing.
4. How long might it take for Nvidia stock to reach $1,100?
– There is no specific timeline provided by Goldman Sachs, so it’s difficult to predict when exactly the stock could reach that level.
5. Should I consult a financial advisor before investing in Nvidia stock?
– It’s always a good idea to consult with a financial advisor before making any investment decisions, especially when considering high-value stocks like Nvidia.
Win Up To 93% Of Your Trades With The World’s #1 Most Profitable Trading Indicators
Win Up To 93% Of Your Trades With The World’s #1 Most Profitable Trading Indicators
