2024-07-08 05:49:00 ET
Wall Street remains generally bullish about Nvidia (NASDAQ: NVDA) . The stock has skyrocketed more than 150% year to date and now boasts a market cap of nearly $3.2 trillion. Even after this huge gain, 21 of the 38 analysts surveyed by LSEG this month still recommend Nvidia as a buy or strong buy.
But that optimism pales in comparison to what one hedge fund manager expects. EMJ Capital's Eric Jackson predicts Nvidia will be worth $6 trillion by the end of 2024. Could he be right?
Jackson thinks Nvidia's share price will reach $250 by year-end. That's nearly twice the current share price. And it would put Nvidia's market cap at roughly $6.15 trillion, making the chipmaker the biggest company in the world by far. This prediction is either bold or boneheaded, depending on your perspective.
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1 Hedge Fund Manager Predicts Nvidia Will Be Worth $6 Trillion by the End of 2024. Could He Be Right?