Nvidia's share prices recently dropped due to a combination of factors, including profit-taking after a strong run, increased competition, and concerns over valuation. Investors may also be cautious about the sustainability of Nvidia's growth amid a potential economic slowdown.
Nvidia's intraday high price last month was over $140 per share4.
The Wall Street analyst optimistic about Nvidia is Morgan Stanley analyst Joseph Moore. He increased his price target from $116 to $144 per share, believing that the AI leader's shares will rebound and exceed its all-time high. Moore sees a jump in earnings per share through next year and thinks Nvidia stock is worth buying.