Key Stocks in the AI Chip Industry Nvidia Corporation NVDA program And Advanced Micro Devices Inc. AMD Stocks continue to ride the AI wave on Monday.
Wall Street expects AI-leading chipmaker to capture significant market share Taiwan Semiconductor Manufacturing Company TSM The company is expected to report a 30% jump in second-quarter earnings on Thursday. The Street expects Taiwan Semiconductor to post a net income of $7.25 billion for the quarter ending June 30.
Read also: Nvidia highlights lucrative revenue for cloud providers using Nvidia GPUs
Technology investor James Anderson predicts that Nvidia could achieve a market value approaching $50 trillion over the next decade due to its critical role in the demand for artificial intelligence chips.
He noted that Nvidia could reach earnings of $1,350 per share and free cash flow of $1,000 per share with sustainable 60% annual growth in data center revenue.
Nvidia shares are up more than 178% over the past 12 months, while AMD shares are up more than 53% over that period.
Investors can gain exposure to the semiconductor sector through: ProShares Ultra Semiconductor Company American dollar And Invesco PHLX Semiconductor ETF Soxqueo.
NVIDIA Stock Prediction 2024
Stock research can be a valuable source of information for learning about a company’s fundamentals. Analysts create financial models based on a company’s fundamentals and expected future earnings to arrive at a price target and recommendation for a stock.
The average 1-year price target for NVIDIA stock is $827.85, representing an expected upside of 536.49%.
Due to differences in assumptions, analysts can come up with very different price targets and recommendations. No analysts are bearish on NVIDIA stock, while 47 analysts are bullish. Cantor Fitzgerald has a high price target of $1,400.0, while Goldman Sachs has a low price target of $135.0.
Price movements: NVDA shares were up 0.76% at $130.22 at last check Monday. AMD was up 0.19% at $181.96.
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