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NVIDIA Stock Is "Going Into Overdrive," Says Analyst

TheMotleyFool

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NVIDIA Stock Is "Going Into Overdrive," Says AnalystPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of NVIDIA (NASDAQ: NVDA) are headed to new all-time highs.

So says BMO Capital analyst Ambrish Srivastava. On Tuesday, he lifted his price forecast on the tech titan's stock from $565 to $650. His new target represents potential gains to shareholders of 16% from NVIDIA's current share price near $560.

Srivastava says NVIDIA's stock remains a buy as its pace of innovation goes into "overdrive." He posits that the chipmaker's new product launches will help to significantly expand its long-term market opportunity.

Source Fool.com

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