NVDA is the stock symbol for the Nvidia Corporation, an American company with headquarters in Delaware. Nvidia Corporation makes semiconductor chips and graphic cards for computers. The company has expanded its footprint in the gaming and professional markets through its graphics processing units (GPUs), which have also found applications in cryptocurrency mining. The GPUs are also used in the entertainment industry, in media, manufacturing design, engineering, and construction.
Nvidia stock hit its all-time high of $346 in November 2021. This followed by a major downtrend in 2022 that took the price 70% down. In October 2022, the stock of one of the major chip manufacturers bottomed out at $108 and had a bullish reversal.
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Nvidia Stock News
According to the most recent Nvidia stock news, billionaire investor Stanley Druckenmiller’s family office has invested in the chip maker. In the first quarter of 2023, Duquesne bought $220 million worth of NASDAQ: NVDA. The billionaire family appears to be quite bullish on the AI focussed stocks.
Will Nvidia Stock Go Up?
The question should not be, “will Nvidia go up”? Instead, the question should be about the extent to which Nvidia should be going up. This is a stock that has a lot of tailwinds following it. Despite terminating the Arm acquisition and giving up $1.25 billion as compensation to Arm’s owner SoftBank, Nvidia still retains the 20-year Arm license. As the company moves ahead with its launch of Grace, its computer processing unit, Citi bank believes that it can go on with this project with empowerment from its 20-year Arm license without necessarily owning Arm.
A review of TipRanks’ compilation of the ratings of 26 analysts shows a consensus that the stock has the potential to hit $353.26 – $400.00 in the next year. Twenty-three analysts have Nvidia as a Strong Buy because of the bullish Nvidia stock forecasts.
Nvidia Stock Forecast 2023
As described earlier, Nvidia stock price has been rallying since marking the bottom in October 2022. During this time the stock has surged by 180% which makes it one of the best performing tech stocks during this period. In 2023, the uptrend has continued and the Nasdaq: NVDA is currently 108% up from its year open.
Nvidia Stock Forecast 2025
The Nvidia stock forecast 2025 outlook carries on from the 2023 outlook. The Nvidia stock forecast for 2025 remains bullish. However, there is a chance that the price may retreat to the low of the recent 12-month estimates provided by 26 analysts before the price approaches the top end of their price forecast.
The lower end of the price target forecast is $250, while the top end is $400. $353.26 is the median of the price band’s forecast. If the price exceeds the $400 top end of the 2022 forecast, then 522.72 and 568.06 (141.4% and 161.8% Fibonacci extension levels) could come into the picture at that time.
However, there is always the chance of a price retreat below $250, which negates the long-term bullish outlook.
Nvidia: Weekly Chart
Technical analysis of reveals that Nvidia stock price is currently retesting it March 2022 highs of $292. This level is expected to act as a resistance and may result in a rejection. A reclaim of this level will make Nvidia stock price forecast even more bullish. Any strength above this resistance may take NASDAQ: NVDA to its new all-time high in 2023.
Is Nvidia a Good Stock to Buy?
Nvidia is a good stock to buy. It has good cash flow, solid fundamentals, and has the support of 23 out of 26 institutional firms as a “Strong Buy”. Whether or not it is an excellent stock to buy at the current price is another matter entirely.
Summary
Nvidia stock forecasts are bullish. The company has been able to ride a wave of success from the pandemic and the global shortage of semiconductor chips. In addition, the recent fall in price due to the cancellation of the Arm acquisition has been overcome, and the stock is back to winning ways once more.