Is Nvidia’s Market Cap Heading to $6 Trillion by 2024?
In mid-June, Nvidia hit an all-time high, briefly becoming the world’s largest company by market cap, but soon faced a sharp correction. Despite this, the semiconductor giant remains a top performer with significant growth in recent years. With a market cap increase of over $2.5 trillion since late 2022, Nvidia’s share price is still up by 161.77% year-to-date. While some fear a bubble, others believe the bull run is ongoing.
The Forecast for Nvidia’s Market Cap
- EMJ Capital’s Eric Jackson predicts a market cap of $6 trillion for Nvidia by the end of 2024.
- He anticipates a share price of $250 by the same period, reflecting a potential growth of 98.26%.
- The forecast includes a growth of over $3 trillion in Nvidia’s value in the next six months.
- Nvidia is pointed out as the leading player in the market, lacking any comparable competitors in terms of size and market share.
Nvidia Stock Value and Growth Potential
- Despite comparisons to Cisco during the Dot-com bubble, Nvidia’s P/E ratio remains below the peak reached by Cisco 25 years ago.
- Experts believe that Nvidia’s stock, despite significant growth, is still reasonably priced.
Hot Take: Should You Consider Investing in Nvidia?
If you’re looking for a long-term investment with significant growth potential, Nvidia could be an attractive opportunity. With a strong forecast predicting a market cap of $6 trillion and a share price of $250 by 2024, Nvidia continues to show resilience and steady growth in the semiconductor industry.
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