Nvidia Shares Could Double Or Triple, Says Wharton Professor Drawing Parallels To Cisco's Dot-Com Boom: 'There Could Be 2-3X More Upside'
Portfolio Pulse from Benzinga Neuro
Wharton School finance professor Jeremy James Siegel suggests Nvidia (NVDA) shares could double or triple, drawing parallels to Cisco's (CSCO) performance during the dot-com bubble. Nvidia's stock has surged due to high demand for its AI chips, with a year-to-date increase of 82%. Despite a recent 10% drop, Siegel believes in Nvidia's potential for further growth, potentially reaching a $6.8 trillion market cap. Bank of America maintains a 'Buy' rating on Nvidia, with a price target of $1,100.
March 14, 2024 | 3:40 am
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NEUTRAL IMPACT
Cisco's (CSCO) historical performance during the dot-com bubble is used as a parallel to Nvidia's current growth trajectory, suggesting significant potential for Nvidia.
While Cisco is mentioned as a historical parallel to Nvidia's potential growth, there's no direct impact on Cisco's current stock performance from this comparison.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia's stock has seen significant growth, driven by AI chip demand. Wharton's Siegel suggests it could double or triple, with BofA maintaining a 'Buy' rating and a $1,100 price target.
Given the strong demand for Nvidia's AI chips and the optimistic outlook from both a respected academic and a major bank, the stock is likely to continue its upward trajectory in the short term.
CONFIDENCE 85
IMPORTANCE 95
RELEVANCE 100