Bulls see Nvidia market cap at $5-trillion
Shares of Nvidia surged more than 200% over the past year and one of its most bullish analysts is projecting that the semiconductor giant will extend its rally, pushing its market value to nearly US$5-trillion in the coming year.
Rosenblatt Securities analyst Hans Mosesmann on Tuesday hiked his price target on the chip maker to a Wall Street high of $200, from $140. His raise follows the company’s recent 10-for-one stock split on 10 June. Nvidia rose as much as 2.7% on Tuesday, hitting new intraday highs.
The Santa Clara, California-based company has dominated the market with its highly sought-after products that help power data centres running complex artificial intelligence computing tasks.
This software aspect will significantly increase in the next decade in terms of overall sales mix
Mosesmann, who has had a buy rating on the stock since starting coverage in 2017, said he was positive about Nvidia’s hardware offerings, but noted that “the real narrative lies in the software that complements all the hardware goodness”.
“We anticipate this software aspect will significantly increase in the next decade in terms of overall sales mix, with an upward bias to valuation due to sustainability,”
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