Can NVIDIA Stock Really Reach $360? Or is That an Analyst Pipe-Dream?

Nvidia (NASDAQ:NVDA | NVDA Price Prediction) stock’s ceiling of resistance seems just too strong to break out of, and the longer the shares continue moving sideways, the tougher it’ll be for investors to stay patient with a stock that may very well continue to impress to a limited reaction in the share price.

Amid the sideways move, sell-side analysts have been in no rush to downgrade the stock or lower their price targets. In fact, some of the many table-pounding analysts have become more bullish on the stock. Like it or not, the earnings are continuing to come in hot. And the stock recently hit a level where shares were the cheapest they’ve looked in some number of years.

AI disruption fears are real. Shouldn’t that be bullish for Nvidia?

With Anthropic’s Mythos sending shockwaves of disruption through software once again, you would think that Nvidia and the rest of the AI “picks and shovels” plays would be marching explosively higher. Not the case. Even if the AI boom is heating up, Nvidia has seemingly moved from being a mildly expensive stock to one that’s so cheap that it’s too good to be true.

How do you win as an Nvidia shareholder in this climate?

At just north of 22.0 times forward price-to-earnings (P/E) with a 0.74 PEG ratio, Nvidia is cheap, provided that AI demand stays strong and competitors don’t get the better of the GPU juggernaut. What’s more enticing is the added torque that the stock could enjoy if the AI trade is due for another leg higher, given the many intriguing AI deals it’s spread across the table.

Once the next rally hits, it could be fierce, thanks to Nvidia’s bold bets

As Nvidia places bets $2 billion at a time in some of the most explosive AI innovators out there, I do think that when the stock gets going again, it could prove very hard to catch it on the way up. At the same time, though, if the AI slump worsens, Nvidia might not just be headed sideways, but perhaps lower as the bears start getting the better of the bulls in this lengthy tug of war.

At this juncture, there is one bull over at Tigress Financial Partners who thinks $360 per share is still in play. They’re still bullish on the AI flywheel and its staying power. Could it be that the AI flywheel keeps spinning strong well into 2030 or beyond? I think it’s possible, especially given Nvidia’s dominance has spread from GPUs to the rest of the AI stack. Heck, the company is even ready to assist with orbital computing.

What if $360 is the most realistic target on Wall Street?

Add the Vera Rubin ramp-up into the equation, and perhaps a $360 per share target isn’t as far-fetched as it seems, especially if the margins and growth have more than three good years left in the tank. I’d argue that a bull-case scenario could see the AI flywheel keep going strong into the early-to-mid 2030s.

While Tigress Financial might be a bit more bullish than the average analyst, I do think that there’s a chance that Wall Street pros might, once again, be underestimating the company. And as more investors grow tired of the lack of action, maybe long-term investors could have a chance to initiate a small position in a name that doesn’t have all that many bears.

Perhaps Dr. Michael Burry is one massive bear, but it seems like he has more to gain from the fall of Palantir (NASDAQ:PLTR) than Nvidia. After all, he could be completely wrong with Nvidia and still make a fortune with his bearish bet on Palantir.