Continued Ives, “We could go back to quarters where the stock sells off, bears come out of hibernation mode, stock goes to $100, then all of a sudden, two months later, back up to all-time highs. These knee-jerk reactions, it’s easy to get scared by them because they don’t say anything about near-term demand.”

Nvidia’s talk of huge market opportunities in autonomous driving and robotics is “potentially comforting for investors thinking about what might come next for the company,” an analyst says.

The stock has had a phenomenal run over the last few years, but Arya's price target of $190 implies 35% upside for the shares over the next year or so. Let's see if that estimate is reasonable based on Nvidia's growth and valuation.

Nvidia (NASDAQ: NVDA) is a leading supplier of networking hardware and chips for gaming, computing, robotics, and especially data centers, which is where most artificial intelligence (AI) development takes place.