NVIDIA, $NVDA, could announce a stock split as it nears $1,000, per Bloomberg.
The stock has surged by approximately 90% since the beginning of 2024 and has seen a nearly 300% increase over the past year, driven by the ongoing AI boom.
Now, some investors are anticipating a potential NVIDIA stock split.
Ken Mahoney, the president and CEO of Mahoney Asset Management, told Bloomberg News that he expects a stock split within the next year.
"I anticipate the stock will split in the next year or so, which would make it more accessible to small retail investors who currently consider it out of reach," Mahoney said.
NVIDIA last announced a four-for-one stock split in May 2021 when shares were trading around $600. Currently, the stock is approaching the $1,000 mark.
When NVIDIA announced the stock split in 2021, the company stated that it aimed to "make stock ownership more accessible to investors and employees."
Recently, analysts at Mizuho raised their price target on NVIDIA to $1,000, citing it as the "biggest near-term AI winner."
"We continue to see strength in NVDA's AI ramp through 2024/25 with GH200/B100/B200 with our 2024 at ~$89B in DC revenues with potentially more upside and potentially, we estimate, reaching ~$280B in AI DC revs by 2027...," the analysts said.
