Nvidia Shares Surge Following Analyst Report
Nvidia (NASDAQ: NVDA) shares increased by 6.5% on Tuesday, following three days of selling, bringing the stock’s price higher at 12:10 p.m. ET. The surge is attributed to a report from investment bank Cowen, which suggests that the current dip in Nvidia’s stock, down 25% year-to-date, presents a buying opportunity for investors.
Cowen forecasts that Nvidia could potentially grow its annual sales to $140 billion by 2030, up from less than $27 billion last year, driven by its offerings in data centers, video gaming, and emerging metaverse technologies. The report outlines a scenario where Nvidia could increase earnings per share from under $4 to $28 within the same timeframe, capitalizing on an expanding addressable market projected to reach over $30 billion.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
