I think that was one analyst only.
The median analysts have it around $645, but analysts tend to drag their feet when it comes to increasing or decreasing price targets. NVIDIA is the biggest growth story out there, and everyone knows this. The stock merely had a meteoric rise and is looking for a spot to rebase before returning to fresh, 52 week highs.
The stock should be trading much closer to its median PT, and this will likely take place this month or into the new year, as investors and institutional holdings weight the current discounted share price.
The PE has literally been cut in half with its latest FINS released, and its only going to continue to shrink as they move forward. China is the biggest non-story that I've seen, as the demand for their products and services is thru the roof, and the company has already stated that the demand elsewhere will easily outstrip anything lost from China. For anyone that questions whether or not NVIDIA has the steam to continue moving up the mountain, I highly suggest watching the video where the CEO talks for about an hour about their new products. This locomotive is just getting started up the mountain, and NVIDIA will continue leading at the forefront of the AI revolution with its product offerings.
They literally have around 2K or so startups that they have under their wing when it comes to AI alone, and that's huge as some of these partnerships will amount to significant revenue streams in the near future. The company also has the benefit of seeing what these small startups are capable of, and possibly buying up a few of them as they progress.
The company is hiring a new "Global Head of Business Development, Healthcare and Life Sciences" position, as their healthcare sector is about to take off in a big way. The company's healthcare offerings alone could be worth billions, if not much more.
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