Last year, Nvidia skyrocketed 239% thanks to the AI frenzy. But can this Malaysian favorite keep soaring in 2024?
Tech experts say yes, but with a twist.
“This growth might surprise you,” predicts Paul Meeks. Nvidia’s dominance in powering cutting-edge AI, like those chatbots you love, fueled the 2023 rally. Analysts like Karl Freund even compare it to Apple’s iPhone revolution!
Wall Street agrees, jacking up Nvidia’s price targets and crowning it an AI champion. Some even call it the “iPhone moment” of AI. But hold on, says Kim Forrest. 2024 is all about building and using this AI, so a bigger bubble might pop in 2025, not now.
While some expect Nvidia’s pace to slow down eventually, most predict gains in 2024. Trade Algo sees another 35% jump fuelled by optimistic investors. But Ken Mahoney advises caution: take some profits when things inevitably slow down.
The real drama unfolds in 2025 and beyond. Nvidia’s big GTC conference in March and competitor moves will be crucial. While rivals might grab some market share, Nvidia’s throne likely remains secure. “Nothing I can think of compares to what they’ve done,” says Freund.
So, there you have it, Malaysian investors. Nvidia’s AI reign seems far from over, but keep an eye on the long game!
