Wall Street is betting Nvidia can make stock market history again.
After the chipmaker powered its way to a $4 trillion valuation, the first company to ever reach the milestone, analysts still see room for the stock to grow. The upside for Nvidia, according to its biggest bulls, remains incomplete. There are more returns to be had, they argue.
Nvidia is one of the most beloved stocks by investors. It seems to have ridden the stock market exuberance of AI more than any other company. Investors continue to reiterate its strength as the purveyor of the best AI chips that hyperscalers like Meta, Alphabet, and Amazon use.
Of the 79 analysts who currently follow Nvidia, 69 rate it a buy, according to Bloomberg. That’s good for an 87% buy rating among analysts. Only 11 rate it a hold. And just one lone holdout lists it as a sell.
On Thursday, after Nvidia hit the $4 trillion mark, some analysts were unfazed at the prospect that perhaps the chipmaker had reached its stock market peak. At least three analysts published new reports rating the stock a buy, according to Bloomberg data. Goldman Sachs, Keybanc Capital Markets, and Bocom International, the subsidiary of Hong Kong’s Bank of Communications, all listed Nvidia as either a buy or an overweight.
