Nvidia Is Once Again the Most Valuable Company in the World. Is It Too Late to Buy NVDA Stock?
Nvidia (NVDA) shares remain in focus this morning following news the artificial intelligence behemoth has surpassed Microsoft (MSFT) again to reclaim the title of the world's most valuable company.
NVDA shares have been in a sharp uptrend in recent weeks mostly because the U.S. and China agreed to a 90-day trade truce on May 12.
Additionally, the chipmaker's encouraging fiscal Q1 earnings and sizable AI deals it has recently secured from UAE and Saudi Arabia have been contributing to sustained momentum as well.
Together, these tailwinds have pushed Nvidia stock up some 60% since early April.
Is There Any Upside Left in Nvidia Stock?
While the massive surge in NVDA stock over the past two months makes some wonder if now is a suitable time to pull out of it, Wedbush remains convinced that its recent gains may prove a drop in the bucket compared to where it's headed eventually.
Wedbush senior analyst Dan Ives reiterated the AI stock as a 'top idea' in his research note this morning, adding it remains one of the best names to play what he sees as the fourth industrial revolution.
Ives is convinced that the chipmaker's intermediate-term growth profile remains strong, 'bolstered by ramping Blackwell projects and large private and sovereign AI investments.'
NVDA Could Be Headed for $5 Trillion Valuation
Wedbush analyst Dan Ives sees Nvidia's current market cap of just under $3.5 trillion as only the beginning.
In a recent interview with Schwab Network, he dubbed the company's hardware the 'godfather of AI,' adding the AI darling could hit $4 trillion valuation, even $5 trillion within a few years.
His long-term price target on Nvidia stock currently sits at $250, which indicates potential upside of nearly 75% from current levels.
Ives sees tariff-related volatility as manageable and expects NVDA to remain a key beneficiary as global artificial intelligence investments expand from chips into software, robotics, and even autonomous systems.
Wall Street at Large Remains Positive on NVDA Shares
Wall Street analysts have been raising their estimates for NVDA shares in recent weeks, but the mean target on this AI stock is nowhere near what Ives is forecasting at the time of writing.
On average, Street sees upside in Nvidia stock to $173, which translates to potential for another 23% upside from here.
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