At the time of my September 2018 guess, and yes, it was nothing but a guess, it had been on a three-year run that saw its stock move from $23 to $280, a more than 10-fold appreciation. I felt confident about Nvidia’s chances given it was dollars away from hitting $500 for the first time, approximately two years after I predicted it would.
In my most recent article about the company, I argued that a $1,000 share price could come sooner rather than later, suggesting its free cash flow generation would continue to attract its fair share of investors. More importantly, it regained a $500 share price after briefly hitting this level for the first time in late August before retreating into the $400s come September.
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