Shares of Nvidia (NVDA) are eyeing another record high after Keybanc raised its price target on the chip giant to $180 per share. Catalysts Hosts Madison Mills and Seana Smith break down how the call is impacting the stock’s movement and some of the tailwinds giving the chipmaker a boost.
EMJ Capital founder Eric Jackson sat down with Yahoo Finance executive editor Brian Sozzi on the latest episode of the Opening Bid to talk about Nvidia’s upward trajectory, believing it could accelerate as high as $250 per share by the end of the year.
Catch Jackson’s full interview on the Opening Bid.
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Melanie Riehl
Video Transcript
Get to some trending figures that were watching this morning shares in video.
No surprise here, moving to the upside again this morning and Wall Street remaining bullish just yesterday.
Key bank analyst John then raised his price target on the stock to 180 from 130 implying a 37% side.
We’ve got more Polish bullish commentary on Yahoo Finance is brand new show opening bid this morning EMJ Capital founder, Eric Jackson, telling our executive editor Brian saw the that there’s a world where video could hit a $6 trillion market cap this year.
Take a listen, I could see this thing hitting up, you know, between 202 50 per share by the end of this year.
Uh And so the re my my the reason is that um in the last five years, if you go back and look at what, you know how the forward price earnings, multiple has, has varied for NVIDIA over that five year period.
My belief is that, you know, we’re now kind of going up again with NVIDIA and this is interesting given what we’ve seen over the past couple of months here really with NVIDIA stock, of course, on a tear.
But then we had a couple of executives including Ceo Jensen Juan, selling off their own stake in the stock that led to a couple of days and was one potential reason that led to a couple of days of declines on the name along with some macro concerns and then potentially just a bit of profit taking, but no surprise to see the stock up today, particularly after the amazing results that we got in Shana from T MC.
See those June sales coming in at nearly 208 billion versus the estimate that was around 156.
So a huge beat there and that is gonna be a bullish signal for Nvidia’s TS MC is kind of the manufacturer of their chips.
And what’s also interesting has just been how much attention this has obviously garnered on an institutional level, nothing new but also just amongst retail traders.
And amongst day traders, you talk about some of that interest within the stock and some of the data that B I has crunched here over the last couple saying that NVIDIA focused ETF S have taken a 4.4 billion so far this year.
That’s roughly six times more than what they took in during all of 2023.
And meanwhile, when you compare it to Tesla, Tesla’s amounts as to just over a billion this year compared to 2.8 billion the previous year.
So a billion in Tesla this year comparing to 4.4 billion in NVIDIA.
And I bring that up just because I think that speaks to the excitement surrounding the stock, this moat that they have created at least for now.
In terms of A I demand, they really have been uh the face of this rally clearly uh the biggest driver of the gains that we had seen a year to date.
So whether or not that momentum holds, of course, that is going to be the question as it has been the last several quarters going into this earnings season and what we are going to see from NVIDIA and some of the other market leaders as to whether or not, maybe that indicates whether or not this rally is going to be able to be sustained to some point to the upside or not or if we could see some broader pressure on shares.
But we’ll see.
Yeah, absolutely.
A lot to come in that earnings cycle coming up here.
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