The broader market would have to cooperate, and the AI narrative would have to return for, NVDA stock to break above $220 this year. Compared to most other AI stocks right now, NVDA is surprisingly the cheapest of the bunch. It trades at 41 times earnings, while historically, it has traded around 52 times earnings at the median.

Palantir Technologies ( PLTR 6.43%) and Nvidia ( NVDA 3.16%) are two of the most widely held stocks among retail investors. But Wall Street anticipates minimal upside in the former and substantial upside in the latter, as detailed below:

Tech giant NVIDIA Corporation (NASDAQ:NVDA) specializes in the design and manufacture of graphics processing units (GPUs), central processing units (CPUs), and system-on-a-chip units (SoCs). These products serve diverse markets, including gaming, professional visualization, data centers, and automotive industries.