Nvidia stock set to double and hit $250 by end of 2024, says expert

Group 1 - Nvidia's stock experienced a significant correction after reaching an all-time high, dropping to $126.09, but it remains one of the top performers with a market cap increase of over $2.5 trillion since late 2022 and a year-to-date share price increase of 161.77% [1] - A bullish forecast from EMJ Capital's Eric Jackson predicts Nvidia's market cap will hit $6 trillion by the end of 2024, with a price target of $250 per share, indicating a potential growth of 98.26% [2][3] - Nvidia's growth potential is attributed to high demand and its unique position in the market, as it has no competitors of comparable size [3] Group 2 - Despite the impressive growth, Nvidia's P/E ratio remains significantly lower than that of Cisco during the Dot-com bubble, suggesting that its shares are still considered cheap by several analysts [4] - The comparison with Cisco is deemed inappropriate, reinforcing the notion that Nvidia's current valuation does not reflect a bubble-like scenario [4]