Market Movers: Nvidia Could See $200 Before Year End

After finding strong support at $170, Nvidia (NASDAQ: NVDA | NVDA Price Prediction) continues to ramp higher.

Last trading at $190 in premarket, NVDA is up on news that it agreed to pay $20 billion to acquire assets from Groq, an AI startup. From here, given the strength of the AI boom, we’d like to see NVDA closer to $200 before the year is over.

Helping, just days ago, Barclays upgraded NVDA to a buy on stronger AI spending.

“We are OW as the company has long-term sustainable growth led by a large lead in GPUs for AI in DC, with further Edge opportunities (autos, robots, etc.) and a competitive moat around a large portion of the market,” said the firm, as quoted by CNBC.

Even better, Wedbush’s Dan Ives says NVDA could see $250 by the end of 2026. In fact, he argues that the market is still underestimating how critical NVDA is to AI.

“The reality is there’s one chip in the world, fueling the AI revolution, and that’s Nvidia. And I think as it plays out, numbers are significantly underestimated. I think 15% to 20% at a minimum going into 2026. You put that together, I think we’re looking at a $250 stock in a base case to end 2026,” said Ives, as quoted by Yahoo Finance.

Micron 

Just the other day, Micron (NASDAQ: MU) knocked it out of the park with earnings and guidance. Today, it’s up another $5 in premarket.

As noted by CNBC, the stock is up after DigiTimes reported that, “citing industry sources, Samsung Electronics and SK Hynix are raising prices for their fifth-generation high-bandwidth memory 3E chips by nearly 20% for 2026 deliveries.”

This comes just days after Micron crushed earnings and guidance.

As we reported just days ago, Micron’s EPS of $4.78 beat by 82 cents. Revenue of $13.64 billion beat by $760 million. Analysts were looking for $4.78 per share on revenue of $14.3 billion. Moving forward, the company expects to earn between $8.22 and $8.62 per share. It also expects revenue to be between $18.3 billion and $19.1 billion for the second quarter.

Nike

Nike (NYSE: NKE) is still showing big signs of life after plummeting on weak Chinese sales and guidance.

“However, Apple’s Tim Cook sees value, having just bought $3 million worth of Nike stock at the bottom of trend. Cook, who has been on the NKE board since 2005, bought 50,000 shares at an average price of $58.97 a share. Robert Swan, another Nike director, bought about $500,000 of stock on Dec. 22 at an average price of $57.54,” we noted just last week.

Technically, after catching support at $56.99, Nike is just starting to pivot higher again. Last trading at $60, we’d like to see it refill its bearish gap at around $66 initially. Nike is also just starting to pivot from oversold reads on RSI, MACD, and Williams’ %R.