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NVIDIA (NASDAQ: NVDA) reached a new stock high in early October, indicating a sustained upward rally despite ongoing inflation and geopolitical tensions. The stock trades at approximately 42 times its 2026 earnings consensus, with forecasts suggesting potential growth could lead to a 300% increase by 2035.
Analyst trends show a robust bullish bias, with a consensus price target near $250, indicating about a 12% upside from its breakout point. NVIDIA, which accounts for around 8% of the S&P 500, is expected to drive the index higher, as AI-related spending focuses on the top ten holdings, which collectively represent 37% of the index.
The S&P 500 index recently confirmed an upward trend, with targets between 7,400 and 7,600, following NVIDIA’s breakout performance.
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