NVDA stock could reach $800 per share by 2030, predicts former BCG executive Philip Panaro. Chelsea Jia Feng/BI
Phil Panaro predicted that NVIDIA could grow an additional 545% by the end of the decade.
A former BCG executive said the company will grow rapidly due to the AI revolution and transition to Web3.
The stock could “explode” in 2025 after Blackwell’s release, he said.
According to one former consulting executive, NVIDIA will grow at breakneck speed by the end of the decade.
Phil Panaro, a former senior adviser at Boston Consulting Group and CEO of a BCG subsidiary, said the AI chip maker’s stock could reach $800 by 2030. This represents an additional 545% increase in the stock, which was trading around $122 per share at midpoint. -Sun Friday.
Panaro cited the idea that the next era of the Internet will be determined by blockchain technology, predicting that Jensen Huang’s company will benefit from the artificial intelligence revolution and the transition from Web2 to Web3.
These developments could lead to significant spending from NVIDIA customers, he said, adding that Web3 could add trillions in value to the market, including Goldman Sachs, Citigroup and Morgan Stanley. He pointed out the estimate.
“NVIDIA is ramping up everything in accelerated computing to make that happen, and it’s going to be a big part of that,” Panaro said in an interview with Schwab Networks on Thursday. He later estimated that the company’s revenue could grow tenfold, from $60 billion in the previous fiscal year to $600 billion by 2030.
Investors may not have to wait long to see some of these gains. Panaro said he expects Nvidia’s stock price to “explode” after it releases its next-generation AI chip, Blackwell, but did not specify a short-term price target.
“Without sounding overconfident, if we can keep making these chips, it’s actually inevitable,” he later added of the company’s potential upside. “The penetration rate of AI in the economy right now is literally less than 1%, so every company, city, local government, government, and military is still investing money to leverage AI effectively. I need money.”
Some strategists are skeptical of Nvidia’s rise, whose stock has risen an astounding 2,733% over the past five years. Analysts attribute some of that growth to “hyperscalers,” a small group of Big Tech companies that buy large quantities of Nvidia’s chips.
But despite concerns that those customers could eventually leave, Panaro said the small group of buyers is actually a good sign that Nvidia’s business will grow.
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“This is actually the best case to explain why stock prices are going up, because if you look at the other customers they’re not getting, there are a lot of Fortune 500 companies that haven’t adopted AI to the fullest. I don’t understand, because there are 490 other companies. Every city and government is going to redo all their infrastructure from Web2 to Web3, and then there’s going to be an AI arms race between countries and their militaries. Nvidia has very little participation in this,” Panaro said.
He added: “As long as we can deliver, stocks can basically go to the moon.”
While Panaro’s predictions lean toward the extremes of forecasters, Wall Street is generally bullish on the company’s stock, which has risen 152% since the beginning of the year. Analysts have an average price target of $152 per share for the company, suggesting an upside of about 25% from current levels, according to Nasdaq data.
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