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Nvda Stock Forecast 2024: What Investors Need to Know for Long-Term Gains

NVDA Stock Forecast 2024

NVDA Stock Forecast 2024 this is all you need to now.

NVDA Stock Forecast 2024: Expert Predictions and Analysis

This comprehensive report provides an in-depth analysis of the NVDA stock forecast for 2024, including short-term, medium-term, and long-term predictions. The report covers various aspects of the stock’s performance, including price fluctuations, analyst ratings, and key factors influencing the stock’s movement. With a focus on the “NVDA stock forecast 2024,” this report aims to help investors make informed decisions about their investments in NVIDIA Corporation.

Table of Contents

    Current Stock Price and Performance

    • Current Price: As of June 17, 2024, NVIDIA’s stock price is $131.88, having fallen by -0.682% from the previous day.
    • Recent Performance: The stock has risen in 7 of the last 10 days and is up by 10.53% over the past two weeks.
    chart nvda stock forecast

    Short-Term Forecast

    • Next Few Days: The stock is expected to rise slightly, with a forecasted price of $131.01 for tomorrow, June 18, 2024.
    • Next Week: The price is predicted to reach $127.12 on June 18, $128.22 on June 19, $129.29 on June 20, $130.99 on June 21, and $136.64 on June 24, 2024.
    NVDA stock forecast 2024 price chart

    Medium-Term Forecast

    • End of 2024: The forecasted price at the end of 2024 ranges from $117.25 to $160.00, representing a potential increase of up to 22.15% from the current price.
    • Mid-2025: The price is expected to climb to $125.00 by mid-2025 and reach $126.93 by the end of 2025.
    chart nvidia price forecast for 3 next months min
    chart of vstar nvda stock price Technical Analysis 2023

    Long-Term Forecast

    • 2026-2030: Over the next five years, NVIDIA’s stock price is projected to increase significantly, reaching $160.00 by the end of 2030, which is a 22.15% increase from the 2025 forecast.
    • 2031-2035: The stock price is expected to continue its upward trend, reaching $180.00 by the end of 2035, representing a 137% increase from the current price.

    Analyst Ratings and Recommendations

    • Analyst Consensus: The average analyst rating for NVIDIA stock is “Strong Buy,” with a 12-month price target of $126.93, indicating a slight decrease of -3.75% from the current price.
    • Technical Indicators: The stock holds buy signals from both short and long-term moving averages, suggesting a positive outlook.

    Key Factors and Risks

    • Positive Factors: NVIDIA’s integration of AI capabilities, a strong market presence, and a growing number of paid subscriptions are expected to drive growth.
    • Risks: Potential regulatory risks, product launch delays, and a year-to-date decline in GPU units could negatively impact the stock.

    Overall, while there are some short-term fluctuations and potential risks, the long-term outlook for NVIDIA stock remains positive, with significant growth expected over the next decade. This gives enough reasons to comeback for this NVDA Stock Forecast 2024 report.

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    The main factors driving the predicted drop in NVDA stock price include:

    stock forecast
    1. Overvaluation: The stock is trading at a high valuation, with shares trading at nearly 70X TTM earnings, 51X book value, and 34.48X last year’s revenue. This could indicate that the stock is overpriced and due for a correction.
    2. Risk Factors: The article highlights several risk factors that could impact NVDA stock, including the potential for inaccurate AI output, regulatory risks, and the broader market conditions such as the Federal Reserve’s delay in cutting interest rates and the potential rise in energy costs.
    3. Short-Term Technical Indicators: The short-term technical indicators suggest that the stock is due for a correction. The 14-day RSI is at 40.98, indicating that the stock is overbought and could be due for a pullback.
    4. Fear & Greed Index: The Fear & Greed Index is currently at 39, indicating fear in the market, which could contribute to a decline in the stock price.
    5. Accumulated Volume Support & Resistance Levels: The stock is trading above the accumulated volume support level at $121.00, which could indicate that the stock is overvalued and due for a correction.
    6. Predicted Opening Price: The predicted opening price for the next day is lower than the current price, indicating a potential drop in the stock price.

    These factors collectively suggest that the stock could be due for a correction, leading to a predicted drop in its price. We will be updating this NVDA Stock Forecast 2024 so you can be updated with the latest developments about NVDA.

    How is the AI market’s projected valuation impacting NVDA stock

    The AI market’s projected valuation is significantly impacting NVDA stock. The AI sector is expected to continue growing, driving demand for Nvidia’s data center products and AI chipsets. This growth is reflected in the company’s financials, with revenue more than tripling in the latest quarter from the same period a year earlier.

    However, the market’s enthusiasm for AI has led to a high valuation for Nvidia, with the stock trading at a price-to-earnings ratio (P/E) of 77.16, which is significantly higher than its historical average P/E ratio of 55 and 75. This overvaluation is a concern for analysts, who believe that the stock is currently trading above its intrinsic value.

    Additionally, the AI market is expected to become increasingly competitive in the long term, with other players such as Advanced Micro Devices (AMD), Qualcomm (QCOM), Apple (AAPL), and others entering or reducing their reliance on Nvidia AI chipsets. This could lead to a decline in Nvidia’s market share and revenue, which could negatively impact the stock price.

    Overall, while the AI market’s projected growth is driving demand for Nvidia’s products, the high valuation and increasing competition in the AI market are significant risks that could impact the stock price.

    How does Nvidia’s dominance in the AI chipset market influence its stock price

    Based on the search results provided, Nvidia’s dominance in the AI chipset market has a significant influence on its stock price in the following ways:

    1. Market Share and Revenue Growth: Nvidia holds a dominant market share of 70-95% in the AI chip market[3]. This has allowed the company to generate massive revenue growth, with its latest quarterly revenue tripling year-over-year. The strong financial performance driven by its AI chip dominance has been a major catalyst for the stock price surge.
    2. Competitive Advantage: Nvidia’s early lead and technological superiority in AI chips, powered by its flagship products like the H100 and CUDA software, have given it a significant competitive advantage[1][3]. This moat around its AI business has allowed Nvidia to maintain its market leadership and pricing power, further boosting its profitability and stock valuation.
    3. Investor Enthusiasm: The market’s excitement around the AI revolution and Nvidia’s central role in powering it has fueled immense investor enthusiasm for the stock. This is reflected in Nvidia’s meteoric stock price rise of nearly 450% since the beginning of 2023.
    4. Potential Threats: While Nvidia currently dominates the AI chip market, the search results highlight emerging competition from tech giants like Alphabet, Microsoft, and Amazon, as well as traditional rivals like Intel and AMD. The ability of Nvidia to maintain its technological edge and market share in the face of these threats will be a key factor influencing its future stock performance.
    5. Valuation Concerns: Nvidia’s stock is currently trading at a very high valuation, with a P/E ratio of 77.16. This raises concerns about potential overvaluation, which could lead to a correction if the company is unable to sustain its rapid growth trajectory.

    In summary, Nvidia’s unparalleled dominance in the AI chipset market has been a major driver of its stock price surge, but the company will need to continue innovating and fending off competition to justify its lofty valuation and maintain investor confidence in the long run.

    Video: Nvidia Stock Price Prediction for 2024 | NVDA Stock Analysis

    video thumbnail about nvidia stock price prediction for 2024

    How does Nvidia’s market share in AI chips compare to its competitors

    Nvidia’s market share in AI chips is significantly higher than its competitors. According to various sources, Nvidia holds a market share of:

    • 80% to 95%: Nvidia’s AI accelerators hold between 80% and 95% of the market share for artificial intelligence chips, according to Mizuho Securities’ estimation.
    • 80%: Nvidia has 80% control over the entire global GPU semiconductor chip market.
    • 40%: Over 40% of Nvidia’s business last year was related to deploying AI models, rather than training, indicating a significant shift towards inference chips.

    In comparison, competitors like Intel and Advanced Micro Devices (AMD) have significantly lower market shares:

    • Intel: Intel plans to launch a new AI chip this year, but its market share is not specified.
    • AMD: AMD’s Instinct MI300X chip focuses on inference, but its market share is not specified.

    Startups like Cerebras Systems and D-Matrix are also entering the market, focusing on different aspects of AI chip design and architecture. However, their market share is not yet significant compared to Nvidia’s dominance.

    Overall, Nvidia’s market share in AI chips is substantial, and it faces significant competition from established players and startups alike.

    This was it about “NVDA Stock Forecast 2024”. Come back for more because we will be keeping an eye on NVDA. Tell us about your forecast if you are a professional or leave a comment below.

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