Posted 3/15/2024, 4:19:22 PM
Nvidia Stock Down But Seen Rebounding on Upcoming Conference, Rapid Growth
- Nvidia stock trades 8.7% below 52-week high; Wedbush raises price target to $1,000 (12% upside)
- Analysts expect positive news at Nvidia's conference next week to boost stock
- Revenue expected to grow 273% and earnings grow even faster this quarter
- Stock trades at 36 forward P/E; expensive but business growing rapidly
- Analyst sees $100B+ data center market in next 5 years supporting more stock gains
