Serve Robotics was founded in 2017 and develops and operates self-driving delivery vehicles focused on last-mile deliveries.
"We reiterate our Buy rating on NVDA as the meeting reinforced our belief in the sustainability of the ongoing Gen AI spending cycle," Goldman said.
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Nvidia's potential $5 EPS in 2025 would give it a valuation of 25.6x on a forward price-to-earnings basis.
MacroStrategy's James Ferguson said artificial intelligence remains expensive and unproven, and Nvidia might follow Intel and Cisco into obscurity.
"We would be buyers again, but only on prolonged weakness," NewStreet Research analyst Pierre Ferragu said of Nvidia stock.
"Even though the stock has done so well, it is still relatively cheap compared to where it was trading in the past," Eric Jackson said.
Stocks are hugely overvalued and the economy is faltering, paving the way for a stock-market crash and a recession, B. Riley's Paul Dietrich said.
The success of single-stock ETFs that track Nvidia has yet to spill over to other leveraged ETFs that track mega-cap technology stocks.
Nvidia, which was the world's most valuable company just last week, is now worth $2.9 trillion, making it once again the third largest company.
"They've been in this market for quite some time and the competitors are behind by 24 months," Constellation Research said of Nvidia.
"We believe recurring software services could open the next leg of growth," Bank of America said of Nvidia.
The epic surge in AI stocks led by Nvidia reminds three experts of the dot-com and housing bubbles, and could end painfully if investors get spooked.
"The real narrative lies in the software that complements all the hardware goodness," Rosenblatt said of Nvidia.
Nvidia stock jumped Tuesday amid continued bullishness for the chipmaker even after its 173% rally in 2024.
With Nvidia set to take the second spot from Apple in the XLK ETF, it will spark a massive combined trade worth more than $20 billion.
A $4 trillion valuation would represent potential upside of 21%, 23%, and 29% for Apple, Microsoft, and Nvidia, respectively.
The XLK tech ETF has seen big underperformance as diversification rules have limited Nvidia's position to about 5%.
Tech
2024-06-06T11:22:19Z
Nvidia stock has surged by more than 700% since the start of last year, boosting CEO Jensen Huang's wealth by about $93 billion.
Nvidia, the chip maker powering the AI boom, has turned into one of the world's most valuable companies.