To turn $10,000 into $1 million, Nvidia stock would need to increase a hundredfold, or 10,000%. Over the past 10 years, Nvidia stock has increased by more than 24,000%, and an initial $10,000 investment would now be worth over $2.4 million. Can Nvidia stock achieve that again over the next 10 years?

Nvidia stock was edging lower on Tuesday, although its recent so-so performance hasn’t stopped investment bank Jefferies from adding the chip maker to its list of highest-conviction picks. Shares slipped 0.

Nvidia (NVDA) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.