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].