According to Phil Panaro, a former senior advisor at Boston Consulting Group, Nvidia's (NVDA) stock price could reach $800 by 2030. Panaro believes that Nvidia's stock could increase by 545% by the end of the decade.
Panaro's prediction is based on Nvidia's strong growth, including:
Quarterly revenue: Nvidia reached $35 billion in quarterly revenue, which is more than $8 billion over its full 2023 earnings.
AI revolution: Nvidia is expected to benefit from the artificial intelligence revolution.
Web3 transition: Nvidia is expected to benefit from the transition from Web2 to Web3, which is the idea that the internet's next era will be based on blockchain technology.
However, some say that Nvidia's stock price could be affected by a number of factors, including:
AI bubble: If the AI bubble bursts, Nvidia's stock could be hit hard.
Competition: Rivals like Advanced Micro Devices are ramping production of AI-GPUs and introducing new chips.
Internal development: Nvidia's four-largest customers are developing AI-GPUs for their data centers, which could mean Nvidia loses out on valuable data center real estate.
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