Analysts tracking the nvidea stock price forecast expect EPS growth above 100% year-over-year, fueled by the AI chip boom. Institutional buying remains high, with volumes surging on positive semiconductor sector reports, reinforcing momentum into late 2024. One of the main reasons the stock market has boomed is the expectation that the Fed will deliver a string of cuts to interest rates. The technical and analyst trends are robust, and indicate a move to the $250 to $260 level, potentially higher if the subsequent earnings report and deal volume are bullish. Technically, this market is blowing past the initial targets set when it broke out of its trading range in June. The action since reveals that the range was a minor hiccup in a vigorous rally that has yet to play out. The price action in August and September reveals the true strength of this market, as the summer rally did not peak until it achieved a 100% price gain. nvidea stock price forecast trajectory hinges partly on U.S. macroeconomic indicators, specifically interest rate policy shifts. Lower rates could enhance capital flows into tech equities, amplifying bullish scenarios.
