Chart of the Day: Nvidia (NVDA)

Posted by Ian Cooper | Jun 26, 2024 | Chart of the Day | 0 |

Rebounding shares of Nvidia (NVDA) could see higher highs.

All thanks to explosive demand for artificial intelligence technology. Plus, analysts at Citi just hiked their price target on NVDA to $150, with a buy rating.

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“The new price target stems from raised earnings per share expectations in 2025 and 2026 tied to the build plan for the GB200, also known as the Blackwell chip,” added CNBC. The firm added, “Fundamentally, we believe AI adoption remains in the 3rd/4th innings.”

NVDA last traded at $126.09. Near-term, we’d like to see it retest $200 this year. Longer-term, NVDA could easily race back to $1,200 with the AI boom showing no signs of cooling.

Sincerely,

Ian Cooper

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Ian Cooper

Ian Cooper is an expert options trader with decades of experience, and a special talent for predicting big market moves. Together with TradeWins Publishing, Ian shares exactly how you can follow in his footsteps to potentially find huge profits in today's markets.