Nvidia’s Stock Racks Up New Records. Why Bulls Say the Party Can Keep Going.

Nvidia Corp. has added more impressive feats to its list of achievements.

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The company's stock (NVDA) surged by 3.1% during Friday's trading session, contributing to a weekly gain of 7.4%. Remarkably, this marks the 11th consecutive week of gains for Nvidia's shares, establishing its longest weekly winning streak on record, as per data from Dow Jones Market Data.

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Nvidia's stock reached a new milestone on Friday by closing at an all-time high of $942.89, marking its first record finish since March 7th. Despite concerns that Nvidia's stock might face pressure following the company's annual GTC event earlier in the week, the momentum has persisted.

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Analyst Jordan Klein from Mizuho expressed confidence in Nvidia's trajectory, stating that as long as the company continues to exceed expectations, it is likely to remain a top choice for investors in the technology and semiconductor sectors throughout the year.

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Investors are now curious about the stock's next significant catalyst. Klein believes it's primarily a waiting game for the shipment of B100 and the performance of H200 sales, anticipating the launch of Nvidia's Blackwell chip architecture, previewed at GTC, to be pivotal.

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UBS analyst Timothy Arcuri shares a positive outlook, raising his price target to $1,100 from $800 in a recent report titled "The Only Chip Company That Can Create Its Own Mkt." Arcuri believes Nvidia is on the brink of experiencing a surge in demand from global enterprises and sovereigns, particularly as countries invest in sovereign AI capabilities.

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Addressing concerns about Nvidia's pricing strategy for its new chip lineup, Arcuri dismisses worries about pricing being too low, emphasizing that the margin profile of Blackwell is expected to align closely with the current architecture, Hopper, over its entire life cycle.

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Arcuri notes that while margins may initially be lower for Blackwell due to the emphasis on systems over GPUs, this was also the case during the early stages of Hopper. Thus, he anticipates a similar margin profile for Blackwell throughout its life cycle.

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