Chart of Day: Nvidia (NVDA) – 2/8

The last time we highlighted opportunity in Nvidia (NVDA), it traded at around $550 on Jan. 16.

At the time, we said, “The company recently made several big announcements at CES 2024, which included new chips for generative AI, PCs, gaming, and newer partnerships. NVDA also announced its newest GeForce RTX graphics cards.”

nvda

Today, NVDA is up to $686.03, and has become unstoppable. Goldman Sachs even raised its price target to $800 a share from $625, with a buy rating. As noted by Barron’s, the firm “now expects capital spending on cloud computing to rise 26% this year from 2023 levels, and 5% growth next year. That supports sustained demand for Nvidia’s hardware.”

As the company nears its earnings release on February 21, the stock could rally even higher.

With the momentum it’s seeing, it could easily hit our $1,000 price target soon.

deal of the month

best growth stocks

Alliance

Bundle package – lifetime subscriptions for all products

Categories

Recent posts

Tags

Connect with Us

Get FREE Daily Stock Tips

Join and receive market insider stock picks, trade alerts and unique investing insights
This field is for validation purposes and should be left unchanged.
By clicking the "Subscribe" button you are accepting our Terms of Use and Privacy Policy.

Join Waitlist

We’re sorry, but due to the popularity of our services, we have reached our max number of subscribers and are not currently accepting more. If spots become available, we will be sure to contact you. Please join the waitlist below.
Thank You!

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.