Nvidia shares have risen 410% over three years as of Oct. 23, and the stock trades around $211. The author projects that a $10,000 investment could reach about $45,000 by late 2029 if EPS grows 65% a year from fiscal 2026 through fiscal 2029 and the P/E stays near 26.7. That bull case depends on the five big hyperscalers spending more than $1 trillion a year on AI capex from 2027 through 2030, according to a Vanguard forecast. The bear case cites a sharp slowdown in AI spending, competition from peers and customer-developed chips, and EPS growth of only 15% to 20% a year, which could also compress the multiple. The author leans toward the bear case while acknowledging very high uncertainty, and suggests watching hyperscaler capex and revenue at Anthropic and OpenAI.
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NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/27/2026 | 217.94 |
| Change that session | +0.90% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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