Investing in NVIDIA stock with $230 in sight

NVIDIA shares are now flying near all-time highs. In the eyes of investors, the company maintains its leadership in artificial intelligence (AI) and data centers, benefiting from rising spending on the industry’s development. Major tech firms are actively expanding their neural network training capabilities, while demand for NVIDIA’s GPU accelerators remains way above the semiconductor sector’s average. Many analysts believe that investment in AI development could surpass hundreds of billions of dollars in the coming years.

For now, let’s focus on the nearest key event for the company—its first-quarter financial report, due May 20. The market anticipates strong results: revenue slightly above $78.5 billion and earnings per share (EPS) of around $1.74. However, current figures matter less to investors than the tech giant’s prospects.

Traders are particularly interested in the outlook for the second-quarter earnings report. According to market projections, NVIDIA is poised to reach $85–$86 billion in revenue over the next three months. If the company sets its sights even higher, another catalyst for the rally will be in place.

Turning to the technical side, we see that prices continue to climb within the ascending channel, punctuated by only minor pullbacks from time to time. NVIDIA stock has recently hit a new record high, underscoring the firm’s strong fundamental support and explosive bullish momentum.

The ultimate recommendation is to buy NVIDIA shares at the current price, targeting $230 within a week. To mitigate the risk of adverse market movements, place a Stop Loss order at around $215, just below the support level.