Bernstein hikes Nvidia price target to highest on Wall Street, sees latest rally on solid footing

Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company's event at Mobile World Congress Americas in Los Angeles, California, U.S., on Monday, Oct. 21, 2019.
Patrick T. Fallon | Bloomberg | Getty Images

Chip stock Nvidia's rally is on solid footing with more upside ahead, according to A.B. Bernstein.