This Artificial Intelligence (AI) Stock Just Hit a New High, and It's Still Undervalued

It's hard to believe that at one point this year, Nvidia (NASDAQ: NVDA) stock had plummeted by 30% and lost over $1 trillion in market value.Yet as of the closing bell on Aug. 20, shares have bounced back with a 31% gain on the year -- far outpacing the returns of the S&P 500 or Nasdaq Composite. Even more impressive, Nvidia has reclaimed its crown as the most valuable company in the world, boasting a market capitalization of nearly $4.3 trillion.Despite trading near all-time highs, some Wall Street analysts see even more upside ahead -- with price targets forecasting as much as 400% further gains. In other words, many investors think Nvidia stock is still undervalued.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool