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Analysts Predict Potential Soar for Nvidia and Mobileye Global Stocks on Nasdaq

2024-08-04 11:19:34.940000

The Nasdaq Composite index hit a new all-time high in early July, marking its sixth straight record close and its 27th so far this year [ab5486a6]. Despite a recent decline of 11% from its peak, Wall Street analysts believe there is still more upside ahead. Two Nasdaq stocks that analysts believe could soar as much as 226% are Nvidia and Mobileye Global [ab5486a6].

Nvidia, a semiconductor specialist, has seen its stock price surge over 600% since early last year [ab5486a6]. Wall Street analysts remain bullish on the stock, with a potential upside of 83% [ab5486a6]. Nvidia is a market leader in data center GPUs and AI chips, and it has also expanded into CPUs, networking equipment, and software [63ef9507] [284494e8]. The company has experienced significant growth in market cap and popularity due to its AI-focused graphics processing units (GPUs) [63ef9507] [284494e8]. Nvidia's H100 GPUs have become the go-to chip for businesses running generative AI solutions and training large language models [63ef9507]. However, concerns are now being raised about the potential for a crash in Nvidia's stock in the second half of the year [63ef9507] [284494e8].

Mobileye Global, a leader in autonomous vehicle technology, has seen its stock decline by over 60% this year [ab5486a6]. However, analysts believe there is significant potential for the stock to rebound, with a potential upside of 226% [ab5486a6]. Mobileye controls an estimated 70% of the advanced driver-assistance system market and is expected to increase its share to 75% by 2026 [ab5486a6]. Both stocks are attractively priced and have the potential for significant growth [ab5486a6].

It is important to note that the information about the potential soar of Nvidia and Mobileye Global stocks comes from Wall Street analysts and is not a guarantee of future performance [ab5486a6].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.