Therefore, since it made $5.661 in sales during Q1, we can estimate that Q2 sales will be up 11.29% next quarter. That is a very specific projection and gives us a lot of confidence.
Nvidia was very helpful in that it said that it expects its Q2 revenue will be $6.3 billion, plus or minus 2 percent. This is how we can estimate its growth going forward.
For example, if we assume that the 13.15% growth compounds over the next year, the company will have 63.9% revenue growth on a YoY basis. The latter is important since it implies that near-term growth is still high. Revenue rose 84% year-over-year (YoY)and was even up 13.15% over the prior quarter (QoQ). Nvidia had amazing growth for the quarter ending May 3, its fiscal Q1 2022.
After the upcoming 4-for-1 stock split on July 19, my new target would be $413.50, up from the adjusted price today of $200.75 after the upcoming split. My new price target is $1,654 per share, up 94% from today’s price (June 30) of $803.
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