Nvidia’s stock could ride to $800, says Goldman Sachs. Here’s its path.
Nvidia Corp.’s rapid growth has Wall Street wondering how long the company can keep up its momentum, but a Goldman Sachs analyst is feeling increasingly upbeat.
Goldman’s Toshiya Hari no longer assumes that the company’s data-center revenue will drop off during the second half of this calendar year. Now, he’s modeling “consistent growth” through the first half of calendar year 2025, fueled by numerous drivers.
Hari is encouraged that large cloud service providers continue to spend up on artificial-intelligence hardware, and notes that Nvidia’s NVDA, 4.35% customer profile is expanding. Further, he likes that the company has multiple new product cycles on the horizon.
“Although there is still a healthy debate as to whether and/or to what extent the company can grow its data-center business beyond CY2024, we are increasingly confident in the business’ sustainability,” Hari wrote.
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