NVIDIA’s GPU Technology Conference kicks off March 16 in San Jose, billed as the “Woodstock of AI.” With CEO Jensen Huang teasing world-shaking chip reveals, the event could ignite the stock that’s already a $4.37 trillion powerhouse.
GTC Hype Builds
Last year’s GTC sparked a 14% stock surge in the week around the event, unveiling Blackwell Ultra and Rubin chips plus a quantum lab. Jensen Huang said:
“GTC is the epicenter of the AI industrial era. “AI is no longer a single breakthrough or application; it is essential infrastructure. Every company will use it. Every nation will build it. From energy and chips to infrastructure, models and applications, every layer of the stack is advancing at once, and you’ll see that all come to life at GTC.”
Stock Dip Beckons Buyers
NVDA trades at $179.68 as of March 3, down 0.21% post its blowout Q4 earnings on February 25 revenue hit $68.1 billion, up 73% year-over-year, with data centers at $62.3 billion.
Forward P/E sits attractively at 22.83, well below trailing 37.24, signaling undervaluation amid 39% annual earnings growth forecasts through 2027. According to 47 analysts’ short-term price targets, Nvidia’s average price target is $263.54.
The range of the forecasts is $140.00 at the lowest and $352.00 at the highest. The average price target is 44.42% higher than the most recent closing price of $182.48.
Smart Play Ahead
This pre-GTC dip mirrors “sell the news” after earnings spikes, but Nvidia dominates AI chips with 71% gross margins and YTD resilience despite volatility. History shows post-GTC dips in four of five cases, yet long-term bulls win on insatiable demand.
For investors eyeing AI’s boom, snapping shares now positions for surprises Rubin ramps and Feynman could propel NVDA past $200, cementing its lead as AI infrastructure surges globally.