8,788% Return Predicted for THIS Crypto (already up 40% in 6 months)
Sponsored
THIS cryptocurrency has gained 40% in 6 months. A crypto millionaire who has researched the space for a decade says it will go up 8,788% in 5 years. The name of this cryptocurrency is revealed right here: >>Name of cryptocurrency<<
By Josh Enomoto, InvestorPlace
Although tech giant Nvidia (NASDAQ:NVDA) has encountered some turbulent air recently, Wall Street experts remain optimistic about its long-term prospects. Recently, TD Cowen analyst Matthew Ramsay reiterated the bullish case for NVDA stock, citing robust fundamentals. Ultimately, demand from data centers should continue lifting the share price for the long haul.
To be sure, anxieties have started to creep into the narrative. While NVDA stock is up around 165% on a year-to-date basis, the equity is down more than 2% in the past month. Fundamentally, some investors are worried that cloud-computing provider and other enterprises may slow their purchase of Nvidia’s processors. TD Cowen acknowledges that people have concerns about the forward viability.
However, when looking at the data, Ramsay is actually encouraged by the broader trend, with interest in artificial intelligence (AI) boosting demand for advanced processors. “In fact, our checks continue to point to upside in data center as demand for Hopper/Blackwell-based AI systems continues to exceed supply,” the expert stated.
Even with the upcoming Blackwell processors potentially poised to upstage the older Hopper line, Ramsay believes that “sustained Hopper-based systems demand for both compute and networking” will allow Nvidia to beat its second-quarter targets. Therefore, the analyst raised his price target on NVDA stock to $165 from $140.
Has Jeff Bezos Found the Next Nvidia?
If you've sat back and watched companies like Nvidia and AMD soar over 2,000% over the past several years…
And turn $5,000 into $105,000
And wondered what was next…
You need to listen very closely…
Because Jeff Bezos has just found the next big thing…
Enterprise Spending May Continue Sending NVDA Stock Skyward
Ramsay also tackled another rising concern about NVDA stock: large entities in the cloud-computing ecosystem may slow their spending on AI-related hardware. The issue stems from mounting evidence that AI-based revenue may not be as robust as previously anticipated.
Indeed, Goldman Sachs represents one of the loudest critics regarding the possible overextension of digital intelligence. According to a report by The Economic Times, the investment banking firm noted that “[t]ech giants and beyond are set to spend over $1 trillion on AI capex in coming years, with so far little to show for it.”
Fundamentally, if the massive outlay of cash doesn’t yield strong net productivity results, AI may only succeed in consuming gobs of energy resources. Further, experts doubt that the innovation can foster meaningful short-term gains.
Nevertheless, Ramsay believes that NVDA stock should benefit from “a suite of superior technology, long pedigree of innovation and extensive growth-oriented investments.” In turn, the analyst anticipates “strong, sustained, above-peer growth across a widening set of AI verticals.”
While Ramsay acknowledges the risk of a “digestion” year in fiscal 2027, he sees no evidence that in the near term, enterprises are slowing their processor acquisitions. Instead, he sees the opposite scenario, thus reinforcing the price upgrade in NVDA stock.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor held a LONG position in NVDA.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.
Jeff Bezos Next Trillion Dollar Bet (Shocking)
Sponsored
If you've followed Jeff Bezos you know he's made a career out of spotting breakthrough technology long before his competitors… Whether it was the internet in 1994… Cloud computing in 2006… Or Alexa and A.I. in 2014… Bezos made himself the richest man in the world by looking around corners and spotting trends years ahead of everyone else… And on December 31st, 2021, Bezos has done it again… He's gone all in on the biggest tech breakthrough in history… And before you start guessing, this has nothing to do with A.I. or ChatGPT… Instead, it has to do with a technology Bank of America called, “Bigger than fire and bigger than all the revolutions that humanity has seen.” And this technology is going to change everything… 99% of Americans have no idea of what's about to happen… But I've put together a full presentation to explain what's going on… Go here now to see the full details.
