Caixin Media reported on October 9th (Editor: Huang Junzhi) that after experiencing a "five consecutive increase", $NVIDIA (NVDA.US)$ The stock price has once again climbed to near historic highs seemingly. As of Tuesday's close on the US stock market, Nvidia rose by 4.05%, reaching $132.89, just shy of the previous closing peak of $135.58 set in June. Nvidia continued to rise by over 1% in pre-market trading today, with the potential to rise for the sixth consecutive trading day.

At the same time, there is also a bullish sentiment on Wall Street. Analysts say that strong demand for the new Blackwell chip series will enable Nvidia to achieve strong performance next year. In contrast, after Nvidia released their last financial report, Wall Street 'picked a bone' saying the performance did not significantly exceed expectations.

C.J. Muse, an analyst at American financial services company Cantor Fitzgerald, believes that in the chip industry, Nvidia seems to be the most likely company to make a major breakthrough in the future. He and his team believe that among all the companies they have studied, Nvidia's performance has the most 'potential beyond expectations'.

Wall Street believes that the upcoming Blackwell chip, crucial to Nvidia's profit potential, is expected to make a significant contribution in the quarter ending in January next year. Nvidia expects this product line to bring in 'tens of billions of dollars' in revenue in that quarter, while Wall Street's forecast is around $4 billion.

Nvidia CEO Jensen Huang previously stated that the market demand for Blackwell is 'very crazy', coupled with the company's consistently strong execution, Muse believes Nvidia's future performance is expected to exceed expectations.

Muse forecasts that Nvidia's revenue in the quarter ending in January next year will reach about $37 billion, and the revenue by April next year will reach about $41 billion, both of which are approximately $1 billion higher than market consensus expectations.

In a report, he wrote: "Prior to what we believe to be the biggest and most important product cycle we have ever seen, Blackwell is expected to drive performance up and alleviate concerns about potential short-term volatility in the future."

"In this context, Nvidia is undoubtedly our top choice," he added.

Similarly, Mizuho Securities analyst Jordan Klein said that long-term investors and hedge fund investors are becoming increasingly interested in Nvidia's stock performance, especially against the backdrop of entering 2025. "Due to demand far exceeding supply," Blackwell chips may significantly exceed future earnings expectations.

He cited the latest remarks from renowned technology manufacturing company Foxconn/Fujikon Chairman Liu Yangwei. Liu Yangwei said on Tuesday that, as Huang Renxun said, the demand for Blackwell chips is incredibly high. This has sparked enthusiasm among investors.

Furthermore, former senior consultant at Boston Consulting Group Phil Panaro even believes that the continued growth of artificial intelligence and the emergence of Blackwell chips could increase Nvidia's annual revenue from $61 billion in fiscal year 2024 to $600 billion in 2030. In light of this, he predicts that Nvidia's stock price could soar to around $800 by 2030.

Overall, Wall Street analysts unanimously rate Nvidia's stock as "strong buy": in the past three months, they have given out 39 buy ratings, 3 hold ratings, and 0 sell ratings. After a 192% increase in stock price over the past year, the average target price they give is $152.44, indicating a potential upside of about 15%.

Editor / jayden