Nvidia Stock Forecast: Why Nvidia Deserves A Price Target of $320
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary:
- I correctly predicted last April 2 that Nvidia’s stock would hit $300 before June. My previous argument that COVID-19 is boosting Nvidia was judicious.
- NVDA breached the $300 price barrier last April 27. It did it again last May 6, and it closed at $297.79. This is still higher than April 2’s closing price of $247.03.
- My new 1-year price target for NVDA is $320. The inability of AMD to compete in data center GPUs means NVDA will continue to soar higher.
- Nvidia will report its next quarterly earnings numbers on May 21. Going long on Nvidia two weeks before this happens might turn out profitable.
- The predictive algorithm of I Know First has a super mega bullish one-year Nvidia stock forecast score.