Nvidia Stock Price: World's largest artificial intelligence company, Nvidia is making a moon landing with its stock price, and its unstoppable in shooting up. The latest US election with Trump win on expected lines, was welcomed by investors with strong bullish sentiment, and Nvidia is their piping hot pick. Nvidia stock skyrockets to become the world's largest company with market cap over $3.55 trillion. Nvidia snatches its number 1 position once again from iPhone maker Apple Inc.
Nvidia Stock Price:
The heavyweight AI stock is currently at $144.75 apiece, up by 3.5% on Nasdaq, at the time of writing. In the early trade, the stock touched a new all-time high of $145 apiece.
At the current market price, Nvidia gains a whopping $120 billion in its market valuation, taking the total to $3.552 trillion.
Nvidia outruns Apple by $0.163 trillion. At the current price, Apple has a m-cap of $3.389 trillion.
Following this, Nvidia emerges as a multi-bagger of 2024, with gains of a mind-boggling 200.76% as of now. In a year, the stock zoomed by nearly 217%.
Nvidia's extraordinary performance comes despite its stock split sharply. Nvidia has carried one of the highest stock splits of 2024, in the ratio of 1:10, where its share price corrected sharply however the share capital remained the same.
In its history, Nvidia's stock splits have multiplied gains of investors by 480 times. Here's how!
Date
Split
Multiple
Cumulative multiple
2024-06-10
10:1
x10
x480
2021-07-20
4:1
x4
x48
2007-09-11
3:2
x1.5
x12
2006-04-07
2:1
x2
x8
2001-09-12
2:1
x2
x4
2000-06-27
2:1
x2
x2
The Trump-Trade Frenzy:
Nvidia shares are on the bandwagon of broader bull run in market globally. As per Trading Economics, Trump secured 277 electoral votes so far, surpassing the 270 needed for victory, along with key wins in states like Pennsylvania, Georgia, and North Carolina. The Republican party also regained control of the Senate. Investors are optimistic that a second Trump administration will favor business with tax cuts, deregulation, and tariffs, expected to boost economic growth, corporate profits, and inflation.
Nish Bhatt, Founder & CEO, Millwood Kane International also said, "A Trump Presidency will be largely positive for global markets, the key thing to watch out for will be interest rates in his tenure. Donald Trump has been very vocal about his stance on the need for lower rates, and its positive impact on the economy."
How Far Is Nvidia going to rally?
According to Goldman Sachs, Nvidia is all set to sustain its outperformance, which is why, the brokerage has added the largest AI into its Conviction List. Goldman gives BUY on Nvidia. This comes ahead of the company's Q3 results scheduled on November 20.
As per Tip Ranks data, based on 42 Wall Street analysts offering 12 month price targets for Nvidia in the last 3 months. The average price target is $153.86 with a high forecast of $200.00 and a low forecast of $90.00. The average price target represents a 6.22% change from the last price of $144.85.
Brokerages like JP Morgan and Bernstein have set Rs 155 target on Nvidia with BUY recommendation.
Earlier, DBS Group Research in its note said, Nvidia commands a leading and dominant market share in the AI chips. GPUs designed and built by Nvidia for the data centers are cutting-edge and market-leading and are preferred to support high-powered computing in the areas of artificial intelligence, analytics, machine learning and scientific computing.
Management's Q3FY25 guidance marks Nvidia's sixth consecutive quarter of >USD4bn incremental revenue guidance to USD32.5bn (consensus USD33.1bn), affirming the robust demand for AI chips globally. As the AI-chip bellwether, it should benefit from the positive flywheel effect owing to (1) increased adoption of generative AI across industries, and (2) expectation for AI to provide a strong second leg to the ongoing, industry-wide recovery, the DBS report further added.
On the valuation, DBS' note said, "Our TP is derived on 25x blended 2-year forward P/BV, pegged to +1.5 SD above its 5-year average. We see Nvidia's rich valuations justified as it continues to benefit from the surging/growing AI demand - consensus currently ascribes a market-leading, 2024-28 CAGR revenue growth of 49% for the data center segment. Technological strides in AI chips (through H200 GPU, Blackwell chips, Blackwell Ultra in 2025, Rubin in 2026) only further cement Nvidia's leadership position in the AI chips space and are clear in its exemplary financial performance. A lacklustre result and/or forward guidance that suggests a slowdown in AI momentum is a key risk to watch."
Recently, NVIDIA founder and CEO Jensen Huang said Thursday at NVIDIA's AI Summit in Mumbai, said, India has an "amazing natural resource" in its IT and computer science expertise, Huang said, noting the vast potential waiting to be unlocked.
Click it and Unblock the Notifications
Sign in with Google