SFTBF - Is NVIDIA Headed to $900? 3 Things to Know
Shares of NVIDIA (NASDAQ: NVDA) have climbed by 31% since the semiconductor company unveiled its newest data center chips at its investor day on April 12. The stock closed trading on Tuesday at $801, and some analysts think it can go even higher.
The analysts covering NVIDIA for Bank of America and Raymond James have both set a $900 price target on the stock, citing the company's momentum in the data center segment. What's more, NVIDIA recently received good news on its efforts to get its $40 billion acquisition of SoftBank Group 's (OTC: SFTBF) (OTC: SOBK.Y) Arm Holdings approved in the U.K., with three major Arm customers giving the deal a thumbs-up.
Still, with its shares trading at a steep price-to-earnings ratio of 94, it's necessary to ask: Has the stock price risen too far, too fast? Here are three things investors considering buying NVIDIA shares now need to know about its growth prospects.
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Is NVIDIA Headed to $900? 3 Things to Know