Nvidia Stock Could Still Soar 140% to Reach $500, Says Wall Street

Ever since the artificial intelligence (AI) boom began, Nvidia (NVDA) has remained the undisputed king of semiconductors, delivering a jaw-dropping 980% return over the last five years. However, memory stocks seem to have overshadowed the AI chip giant this year, with AI infrastructure stocks stealing the spotlight. NVDA stock has gained just 11% year-to-date (YTD), trailing the explosive rallies in companies like Micron (MU) and Sandisk (SNDK). But don’t mistake the slow rally in Nvidia for slower business momentum.

If anything, Nvidia’s booming AI business is one of the key reasons why memory makers have been outperforming this year. Wall Street believes Nvidia's biggest growth story is still unfolding, with one bullish analyst projecting that NVDA stock could climb all the way to $500 per share. That's roughly 140% potential upside from current levels.