What Do Nvidia And Inflation Have In Common? Munster Says Their Growth Will Be 'Higher For Longer' But 'Bust Is Going To Be Epic'
Portfolio Pulse from Shanthi Rexaline
Gene Munster of Deepwater Asset Management predicts Nvidia's growth will remain high for an extended period due to AI adoption, despite the company's boom-and-bust nature. He supports the $1,000+ price targets for Nvidia, expecting the stock to surpass this within a year or two. However, he anticipates an 'epic bust' in 3-5 years, differing from analysts who foresee a correction in 2026. Nvidia's recent performance, with a 16.40% increase to $785.38, reflects strong momentum.
February 23, 2024 | 9:42 am
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Gene Munster predicts Nvidia's growth will remain high due to AI, supporting $1,000+ price targets. Despite an anticipated 'epic bust' in 3-5 years, Nvidia's current performance is strong.
Munster's analysis and the recent performance of Nvidia suggest a strong short-term growth trajectory, driven by AI adoption. The anticipation of an 'epic bust' in 3-5 years introduces long-term risk, but the current momentum and support for the $1,000+ price targets indicate a positive short-term impact on NVDA's stock price.
CONFIDENCE 85
IMPORTANCE 95
RELEVANCE 100