Nvidia could hit a $13 trillion market cap, analyst says

Raymond James analyst Simon Leopold recently increased his price target for Nvidia to $550, a 130% increase from the current $352 level. This projection would result in a market capitalization of $13 trillion for the chipmaker. While Nvidia's recent sales have doubled year-over-year, the company's full-year 2028 outlook is what's truly generating excitement among investors.

With a projected 70% revenue growth, analysts are particularly impressed by Nvidia's advancements in architectural evolutions, such as the LPU:NVL racks and agentic CPU Vera. These enhancements are accelerating the company's growth, as Rubin ramps up faster than expected and Vera enters production shipments this month. This strong performance has led Nvidia's shares to rise as much as 9% following the Q2 earnings report, which exceeded expectations with adjusted earnings per share of $2.22 and revenue of $96.2 billion.