From Nasdaq:

Nvidia smashes earnings estimates for Q4 fiscal 2024, with strong guidance for the next quarter. Stock skyrockets as analysts raise growth forecasts for the next few fiscal years. CFO statement suggests that 40% of data center revenue comes from AI inference, pointing to sustained growth potential.

Nvidia’s dominance in the AI chip market is reinforced by strong demand for GPUs for training large language models. Customers willing to wait 36-52 weeks for the flagship H100 AI GPU. Revenue expected to double by fiscal 2027, supported by increasing AI inference chip market share.

AI inference chips, which Nvidia is already dominating, could be a key revenue driver in the future. Market for AI inference chips expected to jump to $91 billion by 2030. Nvidia’s potential move into custom chips for AI inference could further cement its position in the market.

Nvidia remains an enticing buy with rapid earnings and revenue growth expected in the coming years. Forward earnings multiple and PEG ratio suggest the stock is undervalued despite its recent surge. Analysts are optimistic about Nvidia’s future growth potential and recommend buying the stock for long-term gains.



Read more at Nasdaq: 90 Billion Reasons Why Buying Nvidia Stock Is a No-Brainer Right Now