From Nasdaq:

Nvidia (NVDA) saw its growth explode in 2023, with a 206% increase in revenue and a stock increase of 238%.

Large companies like Nvidia with billions in annual revenue don’t usually experience this level of growth. There are concerns about how much more upside the stock has in 2024, as guidance points to slowing growth.

Uncertainties and risks for Nvidia include chip export restrictions, limited supply of AI chips, and competition from other companies like Advanced Micro Devices.

Despite growth slowing, Nvidia’s stock valuation is attractive, trading at just 25 times forward earnings estimates, and AI chips produce higher margins than other chip sales.

Investors should consider tucking Nvidia away in their nest eggs, as AI is becoming fundamental to products and services that consumers use every day. The Motley Fool Stock Advisor analyst team identified what they believe are the 10 best stocks for investors to buy now, and Nvidia wasn’t one of them.



Read more: Is It Too Late to Buy Nvidia Stock?