Nvidia Growth Surges on AI Demand; Stock Could Rise 60% More as Secular Trends Accelerate
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Nvidia's revenue and profits have skyrocketed over the past year, with the stock price rising 260% during that time. However, growth is expected to continue.
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Demand for Nvidia's AI and machine learning chips remains extremely strong. The company sees the total addressable market doubling over the next 5 years.
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Nvidia is expanding beyond hardware into software and services like voice recognition, providing new revenue streams.
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Analyst price targets indicate Nvidia stock could rise another 60% from current levels.
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Secular trends fueling artificial intelligence spending are expected to continue growing rapidly, benefitting Nvidia's unique market position across hardware and software.