SNOW - Beyond Nvidia: 1 Artificial Intelligence (AI) Stock With More Upside to Buy Now According to Wall Street
2024-06-04 05:00:00 ET
The S&P 500 (SNPINDEX: ^GSPC) has advanced 11% year to date, and Nvidia (NASDAQ: NVDA) alone is responsible for one-third of those gains. The chipmaker has seen its share price surge 121% since January due to strong demand for data-center compute and networking products, especially those related to artificial intelligence.
However, Wall Street expects Nvidia to lose momentum over the next year. The median 12-month price target of $1,200 per share implies just 6% upside from its current price of $1,137 per share. By comparison, Snowflake (NYSE: SNOW) carries a median 12-month price target of $205 per share, implying 51% upside from its current price of $136 per share.
Is it time to sell Nvidia and buy Snowflake? Here's what investors should know.
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Beyond Nvidia: 1 Artificial Intelligence (AI) Stock With More Upside to Buy Now, According to Wall Street