Will Nvidia Be Worth $6 Trillion a Year From Now? Wall Street Has a Clear Answer.

Key Points

Nvidia stock has been under pressure in recent months.

An acceleration in earnings growth could send it soaring once again.

There is a good chance Nvidia will exceed Wall Street's price targets and achieve a significantly larger market cap.

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Shares of artificial intelligence (AI) chip pioneer Nvidia (NASDAQ: NVDA) have hit a plateau in the past six months. The semiconductor giant's stock price has retreated nearly 4% from the 52-week high it reached in late October, which is quite surprising given that the business continues to deliver phenomenal growth each quarter.

Nvidia became the world's first $5 trillion company in October. However, its tepid stock market performance since then has brought its market cap down to $4.8 trillion. But it won't be surprising to see Nvidia stock step on the gas once again and jump significantly in the coming year. That's what the consensus among Wall Street analysts seems to be.

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In fact, Nvidia's market cap could exceed $6 trillion in the coming year.

Nvidia's median price target points toward a nice jump in the next 12 months

Among the 70 analysts covering the stock, Nvidia has a 12-month median price target of $267.50. That's 33% higher than Friday's closing price. If Nvidia indeed meets its median price target over the next year, its market cap could increase to $6.5 trillion.

What's more, Nvidia stock is rated a buy by 93% of the analysts covering it. So Wall Street seems bullish about Nvidia's prospects in the coming year. That's not surprising, as the stock's pullback in recent months wasn't justifiable considering the company's outstanding growth.

Indeed, Nvidia's valuation clearly suggests that it hasn't been rewarded enough for its growth. It trades at a forward price-to-earnings ratio of 24, a tad higher than the S&P 500 index's forward earnings multiple of 21. But then, the 74% earnings growth that Nvidia is expected to clock this year is well above the 17% average earnings growth expected from S&P 500 companies.

Its earnings growth estimate of 34% for fiscal 2028 is also double the index's estimated earnings growth. As a result, Nvidia deserves a premium valuation, especially given the strong demand for its AI data center processors.

The stock could be worth way more than Wall Street's expectations

Nvidia reported $216 billion in revenue in its fiscal 2026 (which ended on Jan. 25). The data center business contributed $193.7 billion of that sum.

The company now anticipates that it will bring in a whopping $1 trillion in revenue from sales of its Blackwell and Vera Rubin data center lines in calendar 2026 and 2027. That points toward a significant bump in Nvidia's top line. In fact, the $1 trillion pipeline exceeds the revenue analysts expect from Nvidia over the next two years.

So, it won't be surprising to see Nvidia's growth exceeding Wall Street's expectations. The company is anticipated to deliver $11.12 in earnings per share in its fiscal 2028 (which will cover the majority of calendar 2027). If it trades at 30 times earnings at that time, a well-deserved premium to the S&P 500's average multiple, its stock price could hit $333.

That would be a 67% jump from current levels, which would take Nvidia's market cap just past the $8 trillion mark. That's why investors should consider buying this AI stock, as it could soon emerge from its rut and become much more valuable than it is now.

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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.