Analyst sees Nvidia's value more than doubling to $13 trillion
Wall Street is turning even more bullish on Nvidia after blowout results, which is good news for its shareholders and for CEO Jensen Huang's fortune.
- A Raymond James analyst lifted his Nvidia price target sharply, implying the company could more than double in value to $13 trillion.
- Sales doubled from a year ago, but what excited investors most was the forecast for another 70% growth in the following year.
- Data center and edge computing revenue both beat expectations, and next quarter's sales should top $100 billion for the first time.
- Nvidia is handing money back to shareholders fast, with tens of billions going to buybacks and dividends in a single quarter.
- The stock jumped almost 9% in a day, adding roughly $440 billion in value — its second-biggest one-day gain ever — and Huang's net worth now ranks sixth in the world.
Outlook: Nvidia stays the world's most valuable company, and the next test is whether AI chip demand can keep up with the growth already priced in.