Nvidia stock (NASDAQ: NVDA) struggled to climb above the $200 level this year but breached the level last week in May. NVDA is now up nearly 14% year-to-date, and most of the gains came only in Q2. The GPU maker is now seeing a fresh sense of enthusiasm as bulls are aiming to push it further ahead.
NVDA trading above the $200 psychological level is attracting both retail and institutional funds into its fold. Now that Nvidia is positioned at $215,Benchmark analyst Cody Acree reiterated with a strong buy call. According to his price prediction, Nvidia stock could reach $250 next, delivering a profit of $35 per share.
Acree has a success rate of nearly 82% in his price predictions, making his forecasts stronger. Therefore, Nvidia stock is estimated to rise another 16% from its current value of $215. An investment of $1,000 could turn into $1,160 if the price prediction turns out to be accurate. That’s stellar profits, as not every asset delivers double-digit returns.
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Nvidia has remained in the top position in the AI industry as tech titans depend on its chip for AI model deployment. The upcoming Vera Rubin chip is touted to boost Nvidia’s stock prospects, and an entry position now could be beneficial. The next-gen AI chip is scheduled to be released in 2027 and can take NVDA to new heights.
Accumulating Nvidia stock before the Vera Rubin launch could act as a safety net for investors. Even at $215, Wall Street analysts say NVDA is still cheap, as the upside momentum is huge. If the equity dips below the $200 mark again, the accumulation phase from institutions could resurface. This strengthens the stock further as millions worth of funds would enter its fold.
Source: Watcher Guru
