The last time we highlighted opportunity in Nvidia (NVDA), it traded at $531.40 on Jan. 9.

At the time, we noted, “The company recently made several big announcements at CES 2024, which included new chips for generative AI, PCs, gaming, and newer partnerships. NVDA also announced its newest GeForce RTX graphics cards, which offer 4K resolution and even ray tracing. There’s also been speculation NVDA could split its shares, especially as it ramps up substantial growth, and expands its margins.”

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Today, NVDA is up to $686.03 and has become unstoppable. All after Goldman Sachs raised its price target to $800 a share from $625, with a buy rating. Better, as noted by Barron’s, the firm “now expects capital spending on cloud computing to rise 26% this year from 2023 levels, and 5% growth next year. That supports sustained demand for Nvidia’s hardware.”

As the company nears its earnings release on February 21, the stock could rally even higher. Also, with the momentum it’s seeing, NVDA could easily hit our $1,000 price target soon.


Ian Cooper