While Nvidia Shares Are Hitting All-Time High With Over 230% Return In The Past Year, Some ETFs Linked To Jensen Huang's Chip Giant Have Surged By Almost 500%: Here's More
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 23 2024
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Source: Benzinga
Nvidia's Market Performance: Nvidia Corp. has achieved a remarkable 234.09% return over the past year, with several ETFs linked to the company also showing significant growth, such as the GraniteShares 2x Long NVDA Daily ETF increasing by 479.94%.
Strategic Expansion and Demand: The company's stock surge is driven by high demand for artificial intelligence products, alongside plans for global expansion in AI chip development, particularly in India and Thailand, which aims to strengthen domestic semiconductor supply chains.
Analyst Views on SOXX
Wall Street analysts forecast SOXX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOXX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
