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Nvidia At All-Time Highs: Why I’d Pay $83

October 21, 2024
Nvidia Corporation BING-JHEN HONG
Summary
  • Yesterday, Nvidia Corporation stock hit an intraday all-time high of $140.87.
  • Bank of America raising its EPS estimate for the year and TSMC putting out a strong earnings release may have contributed to the rally in NVDA shares.
  • Previously, I thought Nvidia’s mix of steep multiples and high growth made it impossible to value the stock with precision.
  • However, TSMC’s capex guidance for 2025 provides a hint that Nvidia’s high growth will continue for at least another year.
  • In this article, I explain the logic I used to determine that $83 is a reasonable price for a conservative value investor to pay for Nvidia.

Yesterday, NVIDIA Corporation (NASDAQ:NVDA) hit a new intraday all-time high of $140.87 on news that Bank of America Corporation (BAC) had upgraded its fiscal 2025 EPS estimate for the company.

Financial journalist. Passed CFA Level 1. Seeking value and dividend growth opportunities, and sharing what I find on Seeking Alpha. Follow me on Youtube and Twitter: twitter.com/AJButton2
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