"Nvidia's Stock Valuation and Investor Sentiment: What to Watch in 2024"
Bank of America increased its price target for Nvidia to $1,100, citing a lower forward P/E ratio compared to November 2022 and suggesting a 24% potential upside even at a $2 trillion valuation. Despite the stock's 80% YTD surge, it is still trading at lower valuations than in 2022, and ownership levels indicate room for further upside. The upcoming "AI Woodstock" event on March 18 could provide additional momentum, as Nvidia is set to unveil the successor to its H100 chip and showcase the impact of genAI and digital twins across various markets.
