What Will Nvidia Stock's Price Be in 1 Year?
Nvidia stock is poised to outperform the market over the next year, driven by incredible demand for its technology that enables generative AI.
What Will Nvidia Stock's Price Be in 1 Year?
Overview
Nvidia (NASDAQ: NVDA) stock has richly rewarded investors. Shares of the artificial intelligence (AI) chip and technology infrastructure leader have returned 18,300% over the last decade, transforming a modest $1,000 investment into a whopping $184,000. The S&P 500 index returned 328% over this period.
Over the last year, Nvidia stock has returned 45% through June 18, which is lower than most of its recent annual gains but still a strong gain. (The U.S. stock market was closed on Friday, June 19, for the Juneteenth holiday.)
Data source: YCharts. *These huge gains followed the explosion of generative AI onto the tech scene after OpenAI's launch of the ChatGPT chatbot in late 2022.
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Originally published at www.fool.com.
