Here's what Nvidia stock needs to break out of this range

Core Viewpoint - Nvidia is poised for a new growth phase with the anticipated launch of its Blackwell GPU series, which is expected to significantly advance its position in the AI sector and drive stock performance higher [1][5]. Group 1: Stock Performance and Analyst Insights - Nvidia's stock has shown impressive growth of 173% year-to-date, with a market capitalization exceeding $3.3 trillion, indicating its leading role in the AI and semiconductor industries [1]. - Analysts are optimistic about Nvidia's future, with Citi analyst Atif Malik raising the price target to $150, citing the Blackwell chip launch as crucial for stabilizing margins, which dipped to 75.7% in the July quarter [2]. - Goldman Sachs analyst Toshiya Hari also raised the price target to $150, emphasizing Nvidia's leadership in AI computing and the increasing demand for high-performance GPUs [2]. Group 2: Revenue Projections and Demand - Goldman Sachs has increased its revenue projections for Nvidia by 7% and 8% for 2026 and 2027, respectively, driven by strong demand for Nvidia's AI products [3]. - Key partnerships, such as Foxconn's plans to expand server capacity and build a large manufacturing facility in Mexico for Nvidia's chips, are expected to further fuel growth [3]. Group 3: Market Outlook and Technical Indicators - The AI accelerator market is projected to grow at a compound annual growth rate of 29% through 2030, positioning Nvidia to capture a significant market share [4]. - Nvidia's revenue has surged to $96.3 billion over the past four quarters, driven by strong demand for its GPUs in AI applications, with the Blackwell chip launch expected to further enhance growth [4]. - Recent price gains of 22.45% and 50.37% suggest accumulation, with analysts expecting a potential breakout target of $182 if Nvidia surpasses current resistance levels [5].