From Nasdaq: 2024-06-03 08:31:00

NVIDIA (NVDA) continues to soar with a 121.4% YTD return, outperforming the industry. Its focus on AI technology, showcased at Computex 2024, includes RTX AI laptops, Project G-Assist for gamers, and NIM inference microservices for digital human platforms. Collaboration with Microsoft for AI integration highlights NVIDIA’s dominance in the AI space.

The global generative AI market is set to reach $967.6 billion by 2032, with a CAGR of 39.6% from 2024 to 2032. NVIDIA’s advanced chips and GPUs are well-positioned to meet the demand for generative AI applications in various industries like automotive, healthcare, and manufacturing, driving its revenue expectations to $28 billion in Q2 FY25.

Investors should consider NVIDIA as a compelling long-term investment, with an expected earnings growth rate of 36.7%. With a Zacks Rank #1 and Growth Score of A, NVIDIA’s strong financial performance and growth opportunities in untapped markets make it an attractive pick. Despite trading at a premium to the industry, NVIDIA’s consistent performance and growth prospects justify its position as a market leader.



Read more at Nasdaq: NVIDIA’s (NVDA) Expanding AI Portfolio Makes It a Strong Buy