NASDAQ Hits Record Close
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NVIDIA hits $4 trillion milestone in world 1st
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Nvidia (NASDAQ: NVDA) stock currently trades for around $155. However, Loop Capital just gave Nvidia a new price target of $250 per share. That indicates around 60% upside from today's price, but the implications of a $250-per-share stock are far greater.
Nvidia’s climb also made the chip maker briefly the world’s first company with a market value of $4 trillion. Wednesday’s milestone came barely two years after the Santa Clara, Calif.-based company, led by Chief Executive Jensen Huang, notched a $1 trillion closing valuation for the first time.
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Investor's Business Daily on MSNStock Market Today: Nasdaq Cools Off As Astera Labs Reverses, CoreWeave Breaks This Key Chart Level (Live Coverage)After the opening bell, the Dow Jones Industrial Average dropped 0.2%. But the blue chip index erased those thin losses to gain 0.2% in recent trades. The S&P 500 remained fractionally lower; the tech-heavy Nasdaq composite traded down 0.5% and is threatening to halt a three-week winning streak.
HSBC senior analyst Frank Lee says AMD is catching up to Nvidia. However, AMD stock only offers performance, but lacks ecosystem.
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To me, Nvidia may have put AMD in a checkmate position for the time being. I think these figures reported could imply that Nvidia will remain the leader in AI data center chips and could be on its way to a new, prolonged, and sustained wave of growth.
Even with growth going strong and the future looking bright, investors might wonder if buying Nvidia now, at a new high, is a good idea. The stock trades for 35 times forward earnings estimates, higher than a few weeks ago, but lower than a peak of more than 50 just a few months ago.
Wall Street looked to keep momentum from a tech-fueled rally that saw Nvidia leap to become the world's first $4 trillion public company.
U.S. stock index futures eased on Thursday, a day after markets were supported by Nvidia's fleeting $4 trillion milestone, while investors shifted their focus to upcoming economic data and pivotal trade talks.
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Investor's Business Daily on MSNDow Jones Futures: Nvidia Hits $4 Trillion Market Cap As Titans Lead; AI Plays Rubrik, Astera Labs Flash Buy SignalsNvidia stock briefly topped a $4 trillion market cap with Nvidia chipmaker Taiwan Semi on tap. AI plays Astera Labs and Rubrik flashed buy signals.