Where will Nvidia Stock Be in 1 Year?
Semiconductor giant Nvidia's (NASDAQ: NVDA) stock has recorded eye-popping gains of nearly 528% in the past three years -- and nearly 167% in 2024. It is no secret that the company's absolute dominance in the rapidly growing artificial intelligence (AI) market has been the key driving force behind this growth.
However, Nvidia's glory days are far from over. The global AI market is expected to grow at breakneck speed. While there is no consensus about the overall size of the AI market, most analysts expect it to be worth hundreds of billions to almost $1.8 trillion by 2030. Nvidia's leadership in AI-optimized hardware and software has positioned it as a major beneficiary of this tailwind.
Nvidia is well positioned to continue its share price trajectory next year, albeit with few major pullbacks as some investors start rotating out of equities to fixed-income investments amid rate cuts. Here's what to expect from Nvidia in the coming year.
Source Fool.com
