A $10,000 stake in Nvidia at the start of 2023 would be worth nearly $160,000 today. One Motley Fool analyst argues the chipmaker still has room to run, but no longer offers the kind of return that changes a portfolio forever.
A $10,000 investment in Nvidia at the start of 2023 would now be worth nearly $160,000, according to Motley Fool contributor Keithen Drury. That kind of gain made early Nvidia buyers rich, but Drury says the next chapter looks different.
Growth still outruns the stock
Nvidia's graphics processing units have become the industry's top choice for AI build-outs, and the numbers show it. In its most recent quarter, revenue grew 106% year over year, accelerating after growth slowed in 2025. Management now projects 70% growth for the next fiscal year. That growth would come atop a company already worth more than $5 trillion in market cap. Yet none of that forecast has been priced into the stock, Drury notes, even though most companies would see shares jump on such guidance.
A valuation that still looks cheap
Nvidia currently trades at 25 times forward earnings, not far above the S&P 500's 21 times. Once next year's projected growth is factored in, Drury says the valuation falls to below 15 times next year's earnings, which he calls an absolute steal.
Nvidia currently trades at $230.36, up 0.84% on the day, within a 52-week range of $164.27 to $236.54.
Doubling, not multiplying
Drury still calls Nvidia a buy, but stops short of promising life-changing returns again. At best, he expects the stock could double over the next year — a single doubling rather than the kind of multi-year run that turned a $10,000 stake into $160,000. That, he argues, still makes the stock worth owning; it just falls short of setting anyone up for life.
Source: The Motley Fool
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