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Nvidia Stock: Next Stop $246.85 Per Share?

TheMotleyFool

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Nvidia Stock: Next Stop $246.85 Per Share?Photo, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Nvidia (NASDAQ: NVDA) blasted to a new all-time high on April 27. As of mid-afternoon April 29, the stock was up by about 12% year to date -- outperforming the technology sector and the Nasdaq Composite, which was up by about 7%.

Nvidia's market cap first surpassed $5 trillion in November, but fell below that level in lockstep with a broad-market sell-off. Now, it is back above that threshold. Assuming it keeps its share count steady and doesn't engage in any stock splits, a stock price of $246.85 would correspond with Nvidia becoming the inaugural member of the $6 trillion club.

Here's why Nvidia is still a good value even near its all-time high.

Source Fool.com

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