Nvidia's stock performance has soared due to dominance in AI technology, upcoming earnings report crucial.
From Nasdaq: 2024-08-27 09:00:00
In the last five years, Nvidia (NVDA) has seen a whopping 3,065% increase in stock performance, making it one of the best performers in the industry. The company’s success is largely due to its dominance in the artificial intelligence (AI) realm, offering faster and more efficient AI solutions than its competitors. Nvidia’s upcoming earnings report on August 28th will be closely watched by investors for insights into the AI industry and market trends.
As the leading chipmaker on Wall Street, Nvidia’s success in AI technology has attracted investments from big-name tech companies like Microsoft (MSFT), Meta Platforms (META), Alphabet (GOOGL), and Amazon (AMZN). The company’s Graphic Processing Units (GPUs) are considered best-in-breed for AI and machine learning, giving Nvidia a competitive edge in the industry. Investors are eager to see if Nvidia can sustain its scorching earnings growth in the upcoming financial reports for the current quarter and full year 2025.
Nvidia’s stock value has been on a steady rise, with a current chart pattern that mirrors previous corrective patterns before a surge in stock value. Despite reaching a high level according to Fibonacci targets, Nvidia has a history of positive earnings surprises in 17 of the past 20 quarters. Investors will be particularly interested in any updates on Nvidia’s next-generation Blackwell chip, which was delayed due to a design flaw from Taiwan Semiconductor (TSM).
For those looking to invest in semiconductor stocks, Zacks Investment Research recommends a top chip stock that has the potential for significant growth compared to heavyweights like Nvidia. With expanding customer base and strong earnings growth, this chip stock is poised to meet the increasing demand for Artificial Intelligence, Machine Learning, and Internet of Things technology. Global semiconductor manufacturing is projected to reach $803 billion by 2028, providing ample growth opportunities for investors in this sector.
Read more at Nasdaq: Nvidia Stock Earnings Preview: 5 Big Factors