Nvidia Stock Could Double as Analysts Fail to Price in 70% Growth

Nvidia's recent guidance suggests that the company expects 70% revenue growth next fiscal year, which could make it an attractive investment opportunity.

This projection is based on a supply-constrained state, due to memory chip shortages and rising AI budgets.

Nvidia has historically undershot its own projections since the start of the AI race in 2023, making this growth target likely a floor for the company's expectations.

If Nvidia achieves earnings per share of $15.83 and trades at 29 times earnings, that would put the stock price at nearly $460, indicating a potential double from its current value of around $230.