Nvidia is slated to report its results for the fiscal third quarter on Nov. The analyst is also optimistic about the chip maker’s leadership positions in the autonomous-driving and PC-gaming markets. Morgan Stanley predicts that Lucid will not be able to make its 2030 production. “NVIDIA is the clear leader in our view and we expect NVIDIA to garner meaningful share in the larger AI Inferencing market over time,” he wrote. The average price target of analysts covering the LCID stock is 13. The analyst estimates the market for artificial intelligence chips will grow 59% annually to $33 billion by 2022. He cut his December 2019 price target to $255 from $265 for the company, although the lower number still represents 37% upside to Monday’s close. “We are taking down our near-term estimates to account for a more sluggish gaming GPU demand environment, but continue to see $10+ of annualized earnings power 12-18 months from now,” Sur wrote. Sur lowered the current fiscal-year earnings-per-share estimate to $7.69 from $8.02, and trimmed fiscal 2020’s EPS estimate to $8.64 from $9.10. Nvidia stock was up 1.1% to $187.69 in morning trading Tuesday If Nvidia delivers on those lofty expectations, a $1 trillion valuation doesn't seem out of the question (the company's enterprise value sits at $489 billion as of this writing).“We believe the company’s HPC /professional visualization/datacenter momentum remains strong as new compute workload acceleration (AI/Deep Learning, Analytics, etc.) penetration remains solid,” JPMorgan analyst Harlan Sur wrote in a Tuesday research report. For what it's worth, some analysts think Nvidia's revenue will more than double to over $65 billion in five years (compared to $26.9 billion in revenue during the recently completed fiscal year ended in January 2022). These are powerful secular growth trends that could help propel Nvidia higher for many years to come.
Nvidia is designing hardware and software that puts the power of AI into the hands of all industries - from healthcare to the automotive industry, and even for other tech companies. More than a designer of semiconductors like many of its peers, this is a full-blown tech platform.
In spite of mounting worry of an economic slowdown and the fact Nvidia is already a giant among tech stocks, Nvidia's diversification today could actually be a benefit in the next few years. With the price of computer-chip maker Nvidia's stock hovering around 10, Morgan Stanley analyst Mark Edelstone musters only a neutral rating. The case for Nvidia as a $1 trillion company
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