Certainly, the company is in the sweet spot right now. This led to a string of price target changes from virtually all of the major Wall Street banks that cover Nvidia. While revenue growth is slowing it is slowing from very high level and NVDA forecast Q4 revenue to be ahead of analyst estimates. It was really the earnings report on Wednesday that set things in motion for the latest push higher.

However, that is obviously not enough to dent investor enthusiasm with Friday seeing more record highs set. NVDA stock has seen a huge growth in both gaming revenues and chip revenues but its proposed takeover of UK chip manufacturer ARM is facing regulatory headwinds.

The stock is up 153% year to date and nearly 50% in the last month. While the semiconductor sector has outperformed the main benchmarks, Nvidia is in a league of its own this year. Semiconductor stocks have been having a strong year as global shortages mean demand and prices are strong. The move is a continued follow-on from Nvidia's earnings report last week which set the latest rally in motion. Nvidia stock set another all-time high on Friday as the stock closed up over 4% at $329.85.

The hardware and semiconductor stocks continue to outperform.

NVDA stock forecast looks set to target $400 as it breaks $330.

Nvidia keeps making fresh all-time highs after a strong earnings report.

Nvda price target wsj