Understanding the Risks of NVDA Stock as Nvidia Pushes for ATH
Nvidia's Stock Performance Overview
Nvidia's (NASDAQ: NVDA) share price recently hit a record high at $140 before the equity briefly retreated. Now, an analyst warns that the chipmaker will likely see further pullback in the coming days.
Market Analysis of NVDA Stock
On October 18, NVDA stock failed to reclaim the record high, trading at $138, gaining about 0.8% for the day. Meanwhile, the company’s role in the artificial intelligence (AI) scene has contributed to its value surging 180% in 2024.
- Analyst Peter DiCarlo highlights a potential short-term correction.
- Concerns arise as key resistance levels are tested.
Future Projections for NVDA Stock
DiCarlo anticipates a possible plunge to support levels around $127 or even $124. He mentions: “There is a BIG chance price pulls back in the short term.”
DiCarlo’s market bias indicator has recently shifted to bullish, suggesting that Nvidia could hit $150 by December if current levels are sustained.
Nvidia’s Long-Term Growth Potential
Bank of America analyst Vivek Arya maintains a ‘Buy’ rating, upgrading NVDA’s share price from $165 to $190. He states that Nvidia’s engagements span multiple verticals and highlights the importance of new AI products.
Conclusion: Navigating the Nvidia Stock Landscape
Despite the concerns of a short-term pullback, analysts believe 2025 will be pivotal for Nvidia's revenue growth due to upcoming product launches.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.