Nvidia stock could soar 81% if investors recognize its full potential as an AI ecosystem, rather than just a chipmaker, Evercore says [Yahoo! Finance]
Evercore Inc. Class A (EVR)
Last evercore inc. class a earnings: 4/22 06:00 am
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Source: Yahoo! Finance
The firm said Nvidia has morphed into an AI ecosystem play that could generate $69 per share in earnings power by 2030. "We think investors underestimate the importance of the chip+hardware+software ecosystem that Nvidia has created," Evercore said. Nvidia stock still has big upside potential even after it's surged more than 200% over the past year, according to a note this week from Evercore ISI. The firm initiated Nvidia at "Outperform" with a $1,160 price target, representing potential upside of 36% from current levels. And in its bull-case scenario, Evercore said Nvidia stock could surge to $1,540 in the next year, a jump of 81% from current levels. Driving that lofty price target is the idea that Nvidia is much more than a chip company, but the bulk of investors still only see it as that. "We think investors underestimate 1) the importance of the chip+hardware+software ecosystem that Nvidia has created, 2) that computing eras last 15-20 years and are typically dominate
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