Nvidia To Be Stock Market's AI Darling
Nvidia (NASDAQ:NVDA) reports May 24th. We're bulled up with technicals and fundamentals pointing to over a$350 stock price potential. We're not excited about Nvidia based on AI-hype alone. Nvidia has been talking about AI being a core driver to their business for years. So an AI driven acceleration in their business should not be a surprise. And it's not hype.
On the last earnings call the company talked about their core driver, Data Center accelerating next quarter and for the year. Data Center is now Nvidia's largest business and has been driven by AI for years. AI is revving up their core business.
I've been following companies for a few decades. When a company tells you their main business driver is going to accelerate, there's reason to get excited. There's probably nothing better that you'd want to hear.
Nvidia Fundamentals And Technicals Aligned
Technically, the stock breaking above 280, and holding, means to us, upside to 350+.
Fundamentally, our earnings model which we've shown to subscribers calls for a 12 month price target potential close to $400.
So it's very nice when you have a call that has fundamentals and technicals in alignment.
As a confirm to the fundamental story, it was just reported that Nvidia has had huge demand for their AI GPUs.
PS our last upside call that we made public was Meta in February 2023 that we went bullish for subscribers near the lows in late 2022.
Soon: Nvidia To Get AI Stock Market Darling Status
Another amazing side driver, which isn't so small, is that the news media is heating up talking about AI more and more. As I said above, Nvidia's AI business is far from hype. It's driving revenues AND profits unlike many other plays you may hear out there. And the company's telling you AI is a key reason for their expected acceleration.
So as the news media keeps heating up on AI, Nvidia is ready to be the stock market's AI darling.
I also think that AI could potentially be the type of stock market core driver like dot-com was in the 1990s. Both dot-com and AI speak to driving economic productivity which can mean more profits to companies and so higher stock prices. There was the dot-com boom. For the same reason, there's the potential that there can be the stock-market-AI-boom.
And if so, Nvidia should be at the center of all that.
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