Nvidia Believes Artificial Intelligence (AI) Capex Will Reach $3 Trillion to $4 Trillion by 2030. Here's Where Its Stock Price Could Go If It's Right.
The GPU leader is still a top stock to own in the tech space.
Overview
Nvidia (NASDAQ: NVDA) is the world's largest company by market cap, and many investors are a bit worried that its stock may have reached a point where it can't grow fast for much longer. I think that's just not true, and expect that several tailwinds will push the stock to new heights over the next few years.
The biggest of those tailwinds is the tech sector's soaring spending on the data center build-out. If this trend keeps up as Nvidia projects, then it should be a great stock to own in the coming years.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.