With markets dropping again, let’s revisit an old favorite, Nvidia (NVDA), we said on Jan. 17.
At the time we noted, “When we last spoke about NVDA, it traded at around $520. Today, it’s up to $563.82 and could race to higher highs. All after analysts at KeyBanc, which cited strong demand for AI chips by data centers, hiked their price target to $740 from $650, with an overweight rating.”
Today, shares of NVDA are set to open at $622.82 a share, and could potentially see $700 shortly, near term, we believe. Longer-term, we’d like to see it closer to $1,000 a share.