It's the time of year for making predictions about the coming new year. I agree with the Danish proverb, "Prediction is difficult, especially when dealing with the future." However, I'll go out on a limb and make a prediction about the new year.

Nvidia (NASDAQ:NVDA) stock found itself in a mini-slump in recent weeks, falling into correction, even as other tech stocks experience their so-called "Nvidia moments." Though Nvidia could be a relative laggard for a few more weeks or even months as investors digest the recent Fed meeting,

Key Takeaways It’s been a record-breaking year for artificial intelligence darling Nvidia’s stock, as demand for its AI chips pushed sales to fresh highs.Most analysts expect more gains ahead, with demand for Nvidia’s latest chips continuing to outpace supply.

Nvidia's (NASDAQ: NVDA) stock has been a huge winner each of the past two years. After surging over 238% in 2023, the stock has soared approximately 164% this year, as of this writing. Those are two huge back-to-back year gains that have propelled the company to become one of the largest in the world.

NVIDIA NVDA is currently seen as relatively undervalued. Its trailing 12-month price-to-earnings (P/E) ratio of 53.86 is below the industry average of 63.16. This lower valuation might indicate market skepticism about NVDA’s growth potential or possibly reflect the mispricing of a company poised to maintain its leadership in AI computing through 2025.

Nvidia's strong product roadmap and innovation potential make it a compelling long-term investment. Learn why NVDA stock is a Buy.