Prediction: Nvidia's Revenue Growth Will Drive Shares to $400 Next Year
Nvidia is guiding for 70% top-line growth in its next fiscal year, but the chipmaker has regularly proven too conservative with its guidance in the past.
Overview
Nvidia (NASDAQ: NVDA) stock closed trading Friday at around $222 per share. So, predicting it will be a $400 stock next year is a bold call, especially since it's already the largest company in the world by market cap. However, there's math to back that premise up. Furthermore, recent comments from CEO Jensen Huang also make this believable.
If Nvidia can truly rise by 80% between now and the end of next year, it's an obvious buy at today's level, as there are few stocks that can be expected to deliver that type of upside.
Image source: The Motley Fool.
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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.