Nvidia Still Has Room to Grow Despite Massive 230% Surge, Analysts Say
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Nvidia stock has surged 230% year-to-date, but analysts think it still has room to grow despite already reaching over $800B market cap
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Bernstein analysts argue Nvidia is an "AI budget buy" trading at attractive valuations compared to historical levels and semiconductor peers
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Nvidia stock has actually underperformed the broader market recently, slipping 2% since last earnings while the S&P 500 rose 4%
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Nvidia's revenue and profits have skyrocketed over 200% and 1,274% respectively in 2022 on booming demand for AI chips
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Average analyst price target for Nvidia is $666 with 94% of analysts rating it a Buy, implying significant further upside