Nvidia stock has seen significant growth, with potential for long-term gains and becoming a millionaire
From Nasdaq: 2024-07-07 12:06:00
Nvidia (NASDAQ: NVDA) has seen its stock price skyrocket 174% since the start of 2023, with quarterly revenue and operating income climbing 93% and 149%. The chipmaker dominates the AI market with over 90% share in data-center GPUs, fueling platforms like Amazon Web Services and Microsoft’s Azure.
Uncertainty over Nvidia’s bull run caused a stock price dip in late June, but the slump was short-lived as shares rebounded 4% on July 3. Despite recent growth, Nvidia’s stock remains a value with a PEG ratio below one, indicating potential for long-term growth and the opportunity to become a millionaire with the right investment strategies.
Nvidia’s success in the chip market stems from its history of dominance in gaming chips, which set the stage for its venture into data-center and AI GPUs. The company is gearing up to launch its Blackwell line chips, advancing its lead in the AI market. Nvidia’s financial lead over competitors like Intel and AMD indicates its capability to retain market dominance and drive innovation in AI technology.
Investors considering Nvidia should note that the Motley Fool Stock Advisor identified the company as a stock to watch but not in its top 10 picks for monster returns. However, historical data shows that long-term investments in Nvidia have the potential to generate significant profits, with the right investment strategy. Stock Advisor service has historically outperformed the S&P 500 since 2002, offering a blueprint for investor success.
Read more at Nasdaq: Could Nvidia Stock Help You Become a Millionaire?