Prediction: Nvidia Stock Hasn't Peaked. It Is Going to $500 by 2029
Nvidia may have underperformed the broader semiconductor sector over the past year, but it can step on the gas once again.
Overview
Nvidia's (NASDAQ: NVDA) tepid returns of 19% over the past year may lead investors to think that the artificial intelligence (AI) pioneer's best days on the stock market are now behind it. After all, the PHLX Semiconductor Sector index has clocked way more impressive gains of 109% during this period.
However, it would be wrong to think that Nvidia stock has peaked following stellar returns that it has clocked in recent years. That's because the AI infrastructure boom that has supercharged Nvidia's growth over the past four years isn't ending anytime soon. More importantly, the company has been diversifying into new AI niches that should strengthen its growth over the long run.
Details
So, don't be surprised to see Nvidia emerging from its lull and going on a terrific bull run that could take its stock price beyond $500 by 2029. Let's see how that's possible.
Source
Originally published at www.fool.com.