Analyst Predicts a Stock with Higher Returns than Nvidia by 2030

Risk appetite appears to be rebounding as investors look past the prospect of prolonged high interest rates in the U.S., focusing instead on encouraging signs of slowing inflation.

The Nasdaq is leading the market this Thursday, buoyed by strong earnings from AI chipmaker Broadcom. This brings us to our featured analysis from Beth Kindig, the lead tech analyst at the I/O Fund, who believes investors are missing a hidden gem among the AI frontrunners.

Kindig and her firm have a history of making accurate predictions. In August 2021, she predicted that Nvidia’s (NVDA) valuation would surpass Apple’s by 2025—a forecast that briefly came true last week as Nvidia continues to challenge the iPhone giant.

In a recent conversation with Real Vision, published on Wednesday, Kindig reiterated another bold prediction: Nvidia is on track for a $10 trillion market cap by 2030, which would imply a return of over 250%. However, she suggests that even this impressive potential is outshined by opportunities in other stocks, particularly rival AMD (AMD).


Kindig expects significant gains for AMD by 2027, despite mixed opinions from Wall Street. Morgan Stanley recently downgraded AMD, arguing that investor expectations for its AI capabilities are too high, while other analysts believe the company deserves more attention.

Nvidia’s stock has soared 152% this year, dramatically outperforming AMD’s 8.7% gain. A major challenge for AMD is Nvidia’s dominance, holding 98% of the GPU market due to its superior CUDA programming platform. However, Kindig believes AMD can carve out a niche with its more affordable GPUs, which could attract major tech companies with large capital expenditures.

Kindig is optimistic about AMD’s potential to offer a lower total cost of ownership, appealing to big tech companies with substantial engineering resources to work with AMD GPUs. She sees a strategic opportunity for AMD to provide custom silicon solutions at a competitive price point compared to Nvidia.

The analyst also highlighted other AI-related stocks, such as Dell (DELL), which recently saw a stock drop despite soaring AI demand due to concerns over AI server profitability. Kindig views Dell as a strong contender, particularly given its large scale and cash flow advantages compared to Super Micro (SMCI), which is nearing production capacity.

In the current market environment, companies needing to raise cash face increased scrutiny. While Kindig acknowledges Super Micro as a solid company, she has shifted her focus to Dell, expecting it to become a key player as Nvidia and AMD navigate production capacity constraints.

Key Takeaways

  • Revived Risk Appetite: Investors are regaining confidence, focusing on slowing inflation rather than prolonged high interest rates.
  • Nasdaq’s Strength: Broadcom’s positive results are boosting Nasdaq.
  • Beth Kindig’s Insights: Nvidia’s impressive growth potential is notable, but AMD might offer even higher returns.
  • AMD’s Niche: Potential lower costs for tech giants could position AMD as a strong alternative to Nvidia.
  • Dell’s Opportunity: Dell’s scale and cash flow could make it a preferred choice over Super Micro in the AI server market.

Stay tuned to these developments as they unfold, offering potential investment opportunities in a dynamic market landscape.

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