Nvidia Stock Forecast: I’m Not Happy But Nvidia Is Still A Buy – I’m Raising Price Target To $388

June 9, 2020
motek 1The 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 made a pre-earnings report buy recommendation for Nvidia last May. I gave it a price target of $320. Nvidia’s stock is now trading above $350.
  • My gut instinct told me that its time to take profits on Nvidia now. Unfortunately, the predictive AI of I Know First still has a mega super bullish one-year forecast for Nvidia’s stock.
  • I have no choice but to again endorse NVDA as a buy. My new one-year price target for it is now $388. 
  • NVDA is relatively overvalued when compared to its peers. However, The Technical Indicators-driven AI prediction system of WalletInvestor has a one-year price target of $413.626 for NVDA.
  • NVDA’S RSI of 100 already made it overbought but if you like momentum driven stocks, NVDA’s EMA trend is still hinting it remains a buy.

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