My NVDA Price Prediction for 2024

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You've probably read about NVIDIA's recent earnings blowout… Where it revealed that thanks to demand for AI, its future earnings will crush previous expectations. The markets reacted by sending NVIDIA's stock surging by almost 25% in a single day… An impressive feat when you consider it was already a $700+ billion stock before that surge. If you already owned NVIDIA stock before the jump – congratulations… But if you didn't, don't worry… Because I've just discovered an undercover AI stock that I believe could do 300 times better than NVIDIA. I believe this small-cap stock could deliver Huge returns in 2024 – which would be 300 times better than NVIDIA's 25% surge. So just click here to get your hands on my $3 AI Wonder Stock that could make you richer in 2024 (plus a whole lot more)


NVIDIA Corporation’s (NVDA) stock finished up 238% in 2023.

It’s one of the hottest AI/tech plays on the market today, making what seems like a new all-time high every other day… And carrying the entire U.S. economy on it's back!

But can the company continue growing at a similar pace through 2024 and beyond?

I’ll answer that here for you today.

First, here’s a breakdown of what NVDA does to make money:

Graphics Processing Units (GPUs): NVIDIA is best known for its GPUs, which are high-performance hardware used in computers for rendering graphics. These GPUs are popular in a wide range of applications, from video games to professional graphics workstations, and more recently, for research in artificial intelligence (AI).

Gaming: NVIDIA's GeForce product line caters to gamers, offering top-of-the-line performance for PC gaming. They also provide software tools like NVIDIA GameWorks, which offers a suite of tools and technologies for game developers.

Data Centers: Beyond gaming, NVIDIA's GPUs are increasingly used in data centers where they accelerate computing processes, especially those related to AI and machine learning. The company's Tesla and A100 Tensor Core GPUs are examples of products tailored for these tasks.

Professional Visualization: For professionals in design, content creation, and scientific research fields, NVIDIA offers the Quadro series, which provides powerful GPUs that help in rendering complex designs and simulations.

Automotive: NVIDIA is also involved in the automotive industry with its NVIDIA Drive platform. This platform is designed for autonomous vehicles, providing both the hardware (GPUs and SoCs) and software solutions required for self-driving capabilities.

AI and Deep Learning: NVIDIA has positioned itself at the forefront of AI hardware. Their GPUs are optimized for deep learning tasks, and they offer a range of software tools, platforms, and libraries (like CUDA and cuDNN) that allow developers to harness the power of NVIDIA GPUs for AI research and applications.

Networking: With the acquisition of Mellanox, NVIDIA has expanded into the networking space, offering solutions that help in data processing and movement in data centers.

Software and Services: NVIDIA has been expanding its software offerings, including platforms like NVIDIA AI Enterprise and NVIDIA Deep Learning AI, which are designed to optimize the performance of their hardware products.

Now, here’s a breakdown of how each division performed according to NVDA’s latest earnings report:

NVIDIA showcases a robust bullish case with its impressive performance across multiple sectors.

The company reported a Q4 revenue of $3.62 billion in the data center segment, marking an 11% YoY increase, and a record Q4 revenue of $294 million in the automotive sector, a staggering 135% YoY growth.

This growth is attributed to NVIDIA's AI automotive solutions and its widespread adoption by both electric and traditional vehicle manufacturers.

Additionally, strategic collaborations, like the one with Foxconn for autonomous vehicles, and certifications like the safety approval for the NVIDIA Drive OS by TÜV SÜD, highlight the company's forward momentum.

Coupled with healthy financials, including a Q4 GAAP gross margin of 63.3% and a shareholder return of $1.15 billion, and a promising outlook expecting around $6 billion revenue in the next quarter, NVIDIA's prospects look bright, especially considering its dominance in the gaming GPU market.

NVDA growth is impressive and I’m buying the company’s forecast for future growth. That being said, my price target for the next 12 months is $1,200 per share.


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ELON’S FINAL MOVE

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New EV Set to Disrupt Entire Industry

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Is L.A.S.E.R. The Greatest Tech Breakthrough in History?

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Learn the 3 Steps You Need to Protect Your Retirement and One Stock that Could Soar 2,476% in Nine Months.
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One Tweet From Elon Could Blow This Story Wide Open

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$25 to Profit from 20,000 IPOs

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