Magnificent 7 series: What will the Nvidia (NVDA) stock price be worth by 2030?

Predicting where a company’s stock price will be in a month – never mind in more than half a decade’s time – is a tricky business. But still, it’s something that many stock market watchers attempt over and over again, as investing in stocks requires long-term thinking.

So, we’ve started a series, looking at every Magnificent 7 stock and what it may be worth by 2030.

Today, the second stock we’ll be looking at of the Magnificent 7 is Nvidia (NVDA).

Pick-and-shovel play

The darling of the stock market world these past couple of years, Silicon Valley tech company Nvidia needs no introduction for most of us.

“Nvidia is undoubtedly among the top beneficiaries of the current rally in AI-related stocks,” says Invezz analyst Ritesh A. “While the company is not directly involved in advancing AI or leveraging AI for various applications, it has emerged as the premier ‘pick-and-shovel play’ in the industry.”

The current Nvidia stock price

In the last five years, Nvidia’s share price has skyrocketed more than all the other Magnificent 7 stocks – combined. Nvidia’s stock is up more than $1100, a whopping 3100%, in the last half-decade.

A significant percentage of this increase, unsurprisingly, has come from the past 12 months of exponential growth. Nvidia’s stock price is up over $770, more than 197%, in this timeframe.

To put that in perspective, that’s almost as much growth as Microsoft Corporation has achieved in the past five years, within just one.

Review our Magnificent 7 Microsoft analysis for 2030

Will Nvidia’s stock price reach $34000?

So, does this mean that, in the next five years, we’ll see another 3000% rise in Nvidia’s stock price?

Currently valued at $1164.37 at the time of this article going to press, will Nvidia’s price soar to over $34,930 per share?

Read more: Mizuho raises NVIDIA’s price target to $1,275: Can it reach there?

What Invezz analysis says

Invezz analyst Ritesh A is doubtful, saying that whether Nvidia can sustain this level of growth in financial performance and stock value remains uncertain for several reasons.

Firstly, much of the anticipated growth value is already reflected in the company’s valuation multiples. Even using the most conservative EPS estimates, NVIDIA is projected to trade at a P/E ratio above 22 in 2028—high for a semiconductor company in such a cyclical industry.”

Secondly, according to Ritesh, the company’s growth is expected to decelerate, rather than accelerate, in coming years. 

This is evident from growth rate estimates and the company’s own quarter-over-quarter growth outlook for Q2 2025 versus Q1 2025. There is also a finite total addressable market (TAM) that any company or product can capture. Thirdly, competition in the industry is intensifying, with Microsoft partnering with AMD for Azure OpenAI and Intel unveiling its own Xeon server processors and competitively priced Gaudi AI accelerator chips.”

The AI bubble and Nvidia

In other words, the world is having an ‘AI moment’, and Nvidia is right at the center of the bubble. While that is no bad thing, bubbles are finite by nature.

As Ritesh says:

I draw a parallel between NVIDIA and Amazon’s performance more than two decades ago. Amazon was a major beneficiary of the Dotcom bubble, with its stock soaring before the bubble burst. After the Dotcom crash, Amazon’s stock dropped by more than 90%. But over the next 6-7 years, it recovered to its Dotcom era price and has flourished since then.”

A major Nvidia correction coming?

Ritesh A was quick to point out that 2024 and its financial markets are not the 1990s, and that it’s highly unlikely Nvidia’s stock price will plummet like Amazon’s did, but says he does see it “undergoing a major retracement in the coming years.”

However, given its leadership in innovation and dominance over competition, I expect NVIDIA to rebound and achieve new highs by 2030. But investors should be prepared for considerable volatility during this period.”