Wall Street Goes Crazy Bullish! Analyst: Nvidia Could Become the Most Valuable Company in the World in a Few Years

Analysts see huge opportunities for Nvidia's future and believe it could become the world's most valuable company in a few years.

On Tuesday, local time, Evercore ISI analyst C.J. Muse said in a report that Nvidia still has a lot of room for development in the future. With the potential explosion of generative artificial intelligence and the acceleration of more servers, "we would not be surprised if Nvidia becomes the world's most valuable company in the next few years."

So far this year, Nvidia's stock price has soared 194%, up 37% in the past month, and its market value has soared to over $1 trillion, making it the fifth largest company in the United States by market value.

Muse considers Nvidia stock to be the "best choice" and gives it an "outperform" rating, raising its target price from $500 to $550.

Muse said that Nvidia's market value has just exceeded $1 trillion, sparking a market debate about "speculation versus reality." He and his team strongly believe that "the trends we see today are real, and we are still only at the tip of the iceberg of generative artificial intelligence," because the full potential of artificial intelligence has not even been imagined, and it is very important that Nvidia is not standing still in this regard.

Muse is encouraged by Nvidia's commitment to building an ecosystem that is "ubiquitous in all kinds of workloads in the future," and he expects Nvidia to continue to be the dominant force and major beneficiary in the computing field.

Other Wall Street analysts have also emphasized Nvidia's optimistic prospects and their positive views. Jefferies analyst Mark Lipacis wrote in a report, "We still believe that Nvidia's full-stack ecosystem makes it the computing leader in the early stages of artificial intelligence." He emphasized recent comments from Nvidia CFO Colette Kress during a chat, believing that the company has a better understanding of customers' interest in artificial intelligence.

Lipacis raised his target price for Nvidia from $472 to $500 while maintaining a "buy" rating.

Bernstein analyst Stacy Rasgon added in Tuesday's report that Nvidia "remains the best choice in the field of artificial intelligence," and the company's forecast for data centers is "shocking." At the same time, Nvidia faces huge market opportunities in the long run. Rasgon's target price for Nvidia is $475, and the stock is rated "outperform."

On June 15, Bank of America analyst Vivek Arya reiterated his buy rating on Nvidia in his latest report, believing that with Nvidia's future market share in gaming and artificial intelligence, it will continue to be a leader in the semiconductor industry. In their previous report, Bank of America bluntly stated that NVIDIA is the "shovel king" of the AI gold rush era.