NVIDIA's record-breaking quarterly performance and $1.3 trillion in projected hyperscaler capex support a long-term bull case for a $600 share price by 2030, despite current headwinds in the Chinese market.
NVDA is positioned for long-term growth toward a $600 target by 2030, driven by massive hyperscaler capital expenditure projections of $1.3 trillion and the anticipated performance of the Vera Rubin architecture. While the stock currently trades at a compressed forward multiple of 23x, its valuation is tempered by specific headwinds, including zero revenue guidance from the China Data Center segment and rising memory costs. The path to the $600 target relies on EPS scaling to $25, allowing the P/E multiple to remain at a reasonable 24x despite significant share price appreciation.
The market is cautious due to the lack of China Data Center revenue and rising memory costs, which have created a range-bound trading environment.
The model suggests that if fiscal 2031 EPS reaches $25, a $600 share price would represent a 24x forward multiple.
NVIDIA shares trade at a compressed 23x forward earnings multiple despite record-breaking 117% growth in Data Center revenue. Analysts project a path to $600 per share by 2030, contingent on sustained hyperscaler capital expenditure of $1.3 trillion and the successful rollout of the Vera Rubin architecture. While China-related revenue headwinds and rising memory costs persist, the stock remains a top pick for long-term growth.
The target relies on EPS growth reaching $25 by 2031, supported by $1.3 trillion in hyperscaler capex and the successful launch of the Vera Rubin product architecture.