Nvidia Stock Outlook: Strong Growth Anticipated
Wall Street analysts predict a 40% upside for Nvidia (NASDAQ: NVDA), with an average target price of $254 per share compared to its current price of $182. This positions Nvidia as the leading trillion-dollar stock to buy now, bolstered by a remarkable 1,150% increase since January 2023.
The company commands a dominant 90% market share in the data center GPU market and is well-positioned for growth in various sectors, including self-driving cars and autonomous robots. Projected data center GPU sales are expected to grow at an annual rate of 36% through 2033, while robotaxi chip sales may increase by 74% annually through 2030.
In the third quarter, Nvidia reported revenue of $57 billion, a 62% increase year-over-year, alongside a 60% rise in non-GAAP net income to $1.30 per share. Analysts estimate adjusted earnings will grow at 48% annually through January 2028, making the current valuation of 45 times earnings appear relatively inexpensive.
