Some investors are concerned Nvidia stock can't possibly go any higher. The evidence suggests those fears are unfounded.

Consider this, just about nine months ago, at the end of December 2023, Nvidia stock was trading at around $50 levels.

Nvidia is headed for a meteoric run-up by the end of the decade, according to one former consulting exec. Phil Panaro — a former senior advisor at Boston Consulting Group who also served as CEO of a BCG subsidiary — says shares of the AI chipmaker will reach $800 by 2030.

While the stock has gained nearly 750% since the beginning of last year, it has charted a somewhat rocky course over the past few months. But Nvidia looks on track to keep growing sales of its high-end graphics processing units (GPUs) and remain the industry's dominant supplier.

Even after its rise in the last week, this Fool plans to steer clear of Nvidia stock. Here he explains why. The post Nvidia stock is up 6% in a week! Is it time to buy? appeared first on The Motley Fool UK.