The next target price for Nvidia after record opening USD764.21
Yesterday Nvidia reported the Q4 2023 earnings report with flying color, beating not only top line and bottom-line estimates but also projected beating earning expectation for Q1 2024 and robust growth not only in 2024 but also 2025. Things are even more positive since there will be a new and better replacement chip for the H100, one of the top line AI chips.
The current market capitalization is at USD1.67T and Nvidia company share will most likely increase to around USD1212.00 in next few months and will beat Apple the world largest market capitalization at USD3.0T. Nvidia currently looks like will beat Apple to be the world largest market capitalization company.
If the Fed's FOMC news on fighting the inflation remains with 2 to 3 rate cuts this year even when the next 2 to 3 months CPI, PPI and PCE numbers are bad. Nvidia and S&P 500 index will continue to raise further creating more record high. Nvidia share price will most likely go beyond USD1212.00 if this happen but there will be some pull back or dip. Hence, traders and investors should buy the dip.
If there is a strong headwind happening in these coming 6 months' time such as US-Iran war or recession or Fed's cutting rate too soon for inflation to go back higher, then most likely USD1212.00 will not happen. Keep breaking record high will not happen when this potential strong headwind appears in the market.
Overall BUY Nvidia and keep for at least 2 years to 10 years. The Fundamentals for the coming 2 years will most likely be the same except appearance of Strong headwind which might not happen.
The current market capitalization is at USD1.67T and Nvidia company share will most likely increase to around USD1212.00 in next few months and will beat Apple the world largest market capitalization at USD3.0T. Nvidia currently looks like will beat Apple to be the world largest market capitalization company.
If the Fed's FOMC news on fighting the inflation remains with 2 to 3 rate cuts this year even when the next 2 to 3 months CPI, PPI and PCE numbers are bad. Nvidia and S&P 500 index will continue to raise further creating more record high. Nvidia share price will most likely go beyond USD1212.00 if this happen but there will be some pull back or dip. Hence, traders and investors should buy the dip.
If there is a strong headwind happening in these coming 6 months' time such as US-Iran war or recession or Fed's cutting rate too soon for inflation to go back higher, then most likely USD1212.00 will not happen. Keep breaking record high will not happen when this potential strong headwind appears in the market.
Overall BUY Nvidia and keep for at least 2 years to 10 years. The Fundamentals for the coming 2 years will most likely be the same except appearance of Strong headwind which might not happen.
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After the good core PCE number at 2.8% lowest in 2 years, Nvidia is projected to retest the intraday all time high around USD805.00. Might breach this level by tonight or next week. BUY! BUY and BUY! the dip and pullback and don't sell this stock. Jim Lamentor of CNCB investment committee on the halftime report show say that all traders and investors should buy this stock in their portfolio. Please own this stock based on my recommendation and from the professional.
Buy and Keep! I bought some at USD793 to USD794 at record high. Don't worry if no strong headwind in the S&P 500 this will go higher since no financial advisor is willing sell this stock.
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The current price is already USD924.79 has increase significantly from USD794 from the last purchase.The stock will report earnings on May 22, 2024. If good news, then the price might breakout to new record high from previous USD974.00
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Nvidia Q1 earning beats topline and bottom line is a big way again. Causing the stock yesterday to raise USD88.49 in a single day. This is a new strong tailwind for the market. BUT however yesterday PMI data seem good, but it is actually bad since causing the CME group Feds watch tool to signal from 2 cut to 1 cut in 2024. Hence, the market yesterday drop 39.17 for the S&P 500.
Today 24 May 2024 market might also drop until the PCE data point data comes online on 31 May 2024.
Target price for Nvidia in the coming months 3 to 6 months will be USD1212 as proposed and projected in 22 Feb 2024 post.
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Nvidia price move high as of today at USD1210.87 near the suggested peak on Feb 22, 2024. Most likely today will breach above USD1212 with market Capitalization of USD3 Trillion.If the CEM Fed's watch tool remain 2 rate cuts from today until September 2024, Nvidia will continue to make new high. This is most likely the case for this Super Stock
The next target for this Nvidia stock is USD4 Trillion market cap. The new high price in next few months or a year will be around at USD1616.00.
Note
Nvidia already break the USD1212 level yesterday and will be heading to USD1616 level in the next few months' time if there is no strong headwind in the overall market and Nvidia company fundamentals.Don't sell and hold your Nvidia stocks. Don't trade but invest in Nvidia company. If the Friday USA jobs report is a good number, then it will rally further until Fed's FOMC meeting. If Fed's FOMC meeting is good, then the stock will continue to constantly make record high.
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Nvidia couple of days ago already break past the USD3 trillion market cap and beat Apple and Microsoft as the top company in the world with the largest market cap.Nvidia peak on 20 June 2024 around USD140. Ever since then the price has drop violently to current level of USD123.44 pre open today on 24 June 2024.
Nvidia is currently in a correction mode. Price will drop further to USD112.00 or a 20%. It might drop 25% also.
This week is the pricing in of 1 rate cuts by the Feds FOMC. Market will trend lower this week which is most likely the case.
A due correction of the S&P 500 and Nasdaq.
Note
Buy the dip for Nvidia.Note
The Feb 22, 2024 call that Nvidia will break past USD3 Trillion market cap and come the world largest market cap beating both Apple and Nvidia has come true.Cheer! My call was correct after 4 months.
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Nvidia current market cap is at USD3.18 Trillion.
Apple at USD3.45 Trillion.
Microsoft USD3.10 Trillion.
Making Nvidia the second largest market cap in the world after Apples.
Nvidia might just overtake Apple to the largest market cap after this August 28, 2024 earning report and forward guidance.
However, on September 6, 2024 there will be a jobs report macro data coming into play. The past data from 4.1 to 4.3. Most investors knows that this report for year over year data might not be good this month. Most likely continue to weaken.
From 4.1 to 4.3 the market already panic selling on August 5, 2024. If the data is real bad then you will see more panic selling in S&P 500, Nasdaq, Dow Jones, Russell and Cryptocurrency. If remain at 4.1 to 4.3 level there might be some sell off. If head lower then it is good news.
The year over year number above 6.0 only is recession but currently foreseeing another sell of on September 6, 2024 since the Fed's Funds rate is still very restrictive.
If the jobs report is good then Nvidia have a chance again to be the largest corporation in the world by market cap.
I am not buying now until the news of Nvidia Q2 earnings report is out.
In the previous few months back I already accumulated more than 10% of my portfolio in Nvidia. Will not buy anymore if good news.
If bad news, will wait for the price drop drastically to around USD76.35 on the 1-day support level, if further bad news beside earning miss, on the macro front. The worst case will be at USD13.47 level.
This level at USD13.47 is not very likely will happen. It needs lots of bad news.
1) Unemployment year over year mover higher every month is a fast pace. In 4 months move higher than 5.0.
2) Non-farm payroll to be in net negative. This is recession numbers. Currently at only 114k from previous 200k plus level.
3) GDP 2Q officially less than 2% after revision.
4) ISM services and manufacturing PMI continue to be below 50.
5) Jobs creation below 2 million and head lower fast in 3 to 4 months time.
6) Feds cutting more than 150 basis point by year end due to weakening labor market.
7) No softlanding and market sense a recession coming imminent.
8) The most important factor is the inflation core PCE does not get to 2% after another 2 years.
And the list goes on.
I will sell all the profitable positions if all these going to happen and possible short the S&P500 index and other indexes.
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Nvidia reports tomorrow night after the closing bell.
Not sure how the price action will be or the overall market consensus after the earning report is out.
If price goes up. not selling my Nvidia shares.
If price goes down, buy the dip.
The above is what I plan to do tomorrow.
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Buy at USD76.35 but have to wait since the current price is USD109.22 in September 5,2024.
Currently is a seasonal effect for USA stock market. Hedge fund manager does to holiday and will sell what they have. Hence, the S&P 500 index will go down.
I will buy more Nvidia around USD76.35. I might have a chance if the job report on Sep 6, 2024 is bad number or much higher than 4.3.
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The job report was 4.2 a better number. Hence, currently USD76.35 is not likely to occur in this coming 1-month time.
Fed's FOMC most likely cutting rate in September 18, 2024. The seasonality effect might not occur due to the strong tailwind of rate cut cycle to begin soon.
Nvidia will most likely rally further from the current price USD119.10 since S&P 500, Nasdaq, Dow and Russell will continue uptrend if Fed's cut rate by either 25 to 50 basis point.
Note
The prediction of Nvidia share will not dropping to USD76.35 was correct. The price after September 15, 2024 when up to USD148.93 on November 07, 2024.
The Fed's FOMC also cut rate as predicted on the September 18, 2024 post.
The intraday high for Nvidia was recorded on January 07, 2025, USD153.13.
I trim my share on Nvidia from 8 shares to 0.5 shares last few month at the price range between USD140 to USD120 per share.
Reason:
1) Nvidia can only sell as much Blackwell AI chips as the Taiwan Semi capacity offer to them. Not on how much that they can sell. This cause the Nvidia shares price most likely will go as high as USD161.61 or market cap USD4.0 trillion. The end of exponential growth on their AI chips.
2) The max Market cap for Nvidia next 10 years will only grow to USD12 trillion, where the price per share will be around USD484.00. There are other AI growth stock that can do better than Nvidia in net 10 years such as Palantir.
Note
max price most likely for Nvidia in 2025 is USD161.61 around USD4.0 trillion.
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