NVIDIA (NVDA) Stock Price Prediction & Forecast: Is NVDA A Good Investment In 2024?

NVIDIA (NVDA), a so-called fabless chip designer, emerges as a top investment pick for U.S. semiconductor companies. With the AI boom brought by ChatGPT, NVIDIA witnessed its share price soar by more than 360% in 2023 and successfully becoming the fifth largest publicly traded company in the United States by market capitalization.

In the past year, Nvidia has witnessed a surge in its market value by an astonishing $2.5 trillion, unseating Apple as the top-valued technology firm globally. However, this remarkable success of Nvidia has sparked discussions regarding the sustainability of its current trajectory.

Then, is it a good time to invest NVIDIA now? What is the future outlook of NVDA’s stock price? The following sets forth the analysis and prediction of NVIDIA’s stock price, thus helping investors determine whether it is a good investment.

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Table of Contents

Latest News & Updates on NVIDIA Stock

What is NVIDIA?

NVIDIA Stock Split Plan

NVIDIA Stock Historical Performance

NVIDIA (NVDA) Stock Technical Analysis

NVIDIA (NVDA) Stock Price Prediction

Is It Worth Investing in NVIDIA (NVDA) in 2024?

How to Buy NVDA on BTCC?

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Latest News & Updates on NVIDIA

On November 20, NVIDIA (NASDAQ: NVDA) reported revenue for the third quarter ended October 27, 2024, of $35.1 billion, up 17% from the previous quarter and up 94% from a year ago.

For the quarter, GAAP earnings per diluted share was $0.78, up 16% from the previous quarter and up 111% from a year ago. Non-GAAP earnings per diluted share was $0.81, up 19% from the previous quarter and up 103% from a year ago.

“The age of AI is in full steam, propelling a global shift to NVIDIA computing,” said Jensen Huang, founder and CEO of NVIDIA. “Demand for Hopper and anticipation for Blackwell — in full production — are incredible as foundation model makers scale pretraining, post-training and inference.

“AI is transforming every industry, company and country. Enterprises are adopting agentic AI to revolutionize workflows. Industrial robotics investments are surging with breakthroughs in physical AI. And countries have awakened to the importance of developing their national AI and infrastructure,” he said.

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on December 27, 2024, to all shareholders of record on December 5, 2024.

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What is NVIDIA?

Stock	NVIDIA
Last Price	$ 145.89 0.44%
Rank	1
Market Cap	$ 3,578.7B
24H Trading Volume	$ 260.2M
Exchange	NASDAQ
Open	$ 147.41
Previous Close	$ 147.41
High	$ 147.41
Low	$ 142.73
ATH	$ 1224.40 / 2024-06-05
Website	http://www.nvidia.com
CEO	Jen-Hsun Huang
Total Employees	13775
Industry	Semiconductors
Address	2788 San Tomas Expressway
City	Santa Clara
State	CA
Country	US
Zip	95051
Phone	1.408.486.2000
Update Time	2024-11-21 09:50:12

Before we start to analyze and forecast NVIDIA’s stock price, let’s take a close look at what NVIDIA is.

NVIDIA Corporation (NVDA), founded in 1993, is an American semiconductor company and a leading global manufacturer of high-end graphics processing units (GPUs). Based in Santa Clara, California, NVIDIA holds approximately 80% of the global market share in GPU semiconductor chips as of 2023.

NVIDIA has advanced expertise in programmable graphics processors, achieving many important breakthroughs in parallel processing. Besides, it has a broad and leading product portfolio in AI computing.

NVIDIA’s technology is used in a wide range of fields, including gaming, entertainment, virtual reality (VR), augmented reality (AR), professional visualization, artificial intelligence (AI), autonomous vehicles, and more. NVIDIA’s Gpus and AI platforms are driving digital transformation across a wide range of industries, from healthcare and manufacturing to finance and transportation.

NVIDIA has been the primary beneficiary amidst the ongoing artificial intelligence revolution, with its stock soaring over 150% this year, following a remarkable 240% surge in 2023. Recently, its market capitalization surpassed the $3 trillion mark, briefly making it the world’s most valuable publicly traded company, though it now stands second to Apple.

The bulk of NVIDIA’s business revolves around a select few cloud service providers and consumer internet giants, notably Microsoft, Alphabet, Meta, and Tesla. Its cutting-edge chips, including the H100 and H200, have become indispensable in the vast landscape of generative AI applications, prominently featured in OpenAI’s ChatGPT, underscoring the company’s pivotal role in shaping the future of AI.

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NVIDIA Stock Split Plan

NVIDIA held its initial public offering (IPO) in January 1999. The stock’s IPO price was $12 per share. Since then, NVIDIA stock has split five times. The company’s most recent stock split was a 4-for-1 split in July 2021.

Over the past decade, NVIDIA shares have experienced explosive growth, soaring from 25 cents per share to $499 per share in August 2023.

In the May 2024 earnings conference, NVIDIA announced that it is rolling out a 10-for-1 stock split, cashing in on the AI boom it has been driving and giving investors a hefty nugget. Post split, which is effective on June 7, 2024, one NVIDIA share would be worth $94.95.

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NVIDIA Stock Historical Performance

Over the past 24 years since its inception, NVIDIA has performed quite excellent. NVDA is one of the best-performing stocks in the entire U.S. market over the past 30 years, with an overall return of about 60,000 percent.

Over the past decade, NVIDIA has seen faster development. Over the past five years, NVIDIA has returned more than 600%, compared to a total return of 55% for the S&P 500 over the same period.

Incredibly, even with a market cap of more than $1.2 trillion, NVIDIA’s share price shows no signs of slowing down. With gains of more than 240% so far in 2023, NVIDIA is the best performing stock in the S&P 500 index.

In 2024, Nvidia emerges easily as the best-performing the Magnificent Seven member, with Meta stock a distant second at up 35.6%. Tesla stock, also a clear outlier in terms of earnings and valuation, is leading the downside with a 28.9% decline in 2024.

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NVIDIA (NVDA) Stock Technical Analysis

Here is  NVDA stock’s detailed technical analysis based on Daily Simple Moving Average (SMA) & Daily Exponential Moving Average (EMA).

Daily Simple Moving Average (SMA) & Daily Exponential Moving Average (EMA)
Date Calculated:2024-11-21

Weekly Simple Moving Average (SMA) & Weekly Exponential Moving Average (EMA)
Date Calculated:2024-11-21

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NVIDIA (NVDA) Stock Price Prediction

Ahead of NVIDIA’s fiscal quarterly earnings report, Analysts are overwhelmingly bullish on Nvidia heading into Wednesday’s quarterly earnings report.

Of the 23 analysts covering Nvidia tracked by Visible Alpha, 22 have a “buy” rating for the stock, with one “hold” rating. Their consensus price target of $170 represents upside of about 17% compared to the current price.

Several firms raised their price targets in the days ahead of the report, with Stifel analysts increasing their price target earlier this week to $180 from $165. Last week, Mizuho lifted its price target to $165 from $140.

Projections for Nvidia’s results have also ticked higher, with analysts now expecting third-quarter revenue to grow 84% year-over-year to $33.29 billion, driven by record sales from Nvidia’s data center segment.

The following sets forth our price prediction on NVIDIA (NVDA) for the next month:

NVIDIA (NVDA) Stock Price Prediction 2025 – 2050

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Is It Worth Investing in NVIDIA (NVDA) in 2024? 

With global AI spending expected to increase significantly over the next few years, high-powered chips like the ones that NVIDIA produces will be in high demand. Nvidia has been the primary beneficiary of the ongoing artificial intelligence boom. Nvidia shares are up more than 150% this year after soaring almost 240% in 2023. Its market cap recently eclipsed $3 trillion, and Nvidia was briefly the most valuable public company in the world.

Nvidia’s projected sales for the current quarter were encouraging for investors. Many of them are betting that the company’s newest chip, which is faster than its predecessor, will push sales higher.

But the chip’s development has been challenging. During a call with analysts in August, Nvidia said it had to change the production process for the chip because it wasn’t manufacturing enough that worked properly. Mr. Huang assured analysts that wouldn’t cause any delays.

In addition to those challenges, Nvidia has faced government inquiries into its sales practices. The Justice Department, the European Union, Britain and China have all been looking into its business.

Overall, based on current market dynamics, if you want to bet on generative artificial intelligence (AI), there is still no better pick than NVIDIA (NASDAQ: NVDA). Based on NVDA’s past performance and future expectations, the company is also well worth investing in. Anyway, NVIDIA stocks are expected to usher in a stable and promising future.

How to Buy NVDA on BTCC?

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Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”-“Tokenized Stocks & Commodities”, and find NVDA trading pair.

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