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Nvidia Stock Can Vault to $220 or Plunge to $100, Based on Select Wall Street Analysts -- but Both Price Targets Completely Overlook a Key Catalyst
The high- and low-water price targets for Wall Street's artificial intelligence (AI) darling have ignored what's arguably the biggest potential catalyst.
More than 30 years ago, the advent and proliferation of the internet kicked off the greatest leap forward in technological innovation for businesses in a long time. Though a number of next-big-thing innovations have come along since the internet revolutionized how businesses interact with consumers and sell their products and services, none have come close to matching its long-term addressable potential... until now.
The rise of artificial intelligence (AI) represents the next great tech advancement that has the ability to alter the long-term growth trajectory for corporate America. Empowering software and systems with AI solutions to make decisions without human intervention gives this technology a jaw-dropping addressable market, which the analysts at PwC have pegged at $15.7 trillion (globally) by 2030.
Although a long list of companies has benefited from Wall Street's hottest trend, it's semiconductor titan Nvidia (NASDAQ: NVDA) that's become the face of the AI revolution. As is often the case with businesses on the leading edge of a game-changing innovation, predictions are all over the map.
