Nvidia Stock Bounces Back: Analyst Predictions for the Chipmaker

Money | July 4, 2024, 9:23 p.m.

Nvidia shares experienced a bounce back this week, with a 3.84% increase ahead of the July 4 holiday. Despite recent fluctuations, the chipmaker's shares have risen over 10% in the last month and an impressive 159% year-to-date, fueled by the ongoing excitement around artificial intelligence. Analysts continue to favor Nvidia, with 89% recommending a buy or overweight rating, while the remaining 11% suggest holding. The mean analyst target price of $129.01 indicates a potential 0.6% upside for the stock. This positive trend has captured the attention of investors and analysts alike, as evidenced by the latest insights provided by CNBC Pro.