From Nasdaq: 2024-11-10 04:30:00

Semiconductor company Nvidia (NASDAQ: NVDA) has seen a surge in revenue and earnings due to the demand for artificial intelligence infrastructure. The stock price has risen by 910% since January 2023. Investors face a tough decision on whether to buy shares before the upcoming third-quarter financial results announcement on Nov. 20.

Wall Street remains bullish on Nvidia, with 92% of analysts rating the stock a buy and 8% as a hold. The company’s vertically integrated approach to accelerated computing, specializing in GPUs and software development tools like CUDA, gives it a competitive advantage. Nvidia’s revenue run rate for software and services is expected to reach $2 billion this year.

Nvidia is expected to report an 80% increase in revenue and non-GAAP earnings for the third quarter, with analysts projecting revenue to reach $32.9 billion and non-GAAP earnings to be $0.74 per diluted share. The stock has experienced post-earnings volatility, with investors now expecting Nvidia to exceed estimates. Wall Street views Nvidia’s current valuation as reasonable, with adjusted earnings expected to grow by 50% annually through fiscal 2026.

For investors looking for a potentially lucrative opportunity, our expert analysts issue “Double Down” stock recommendations for companies on the brink of growth. Previous picks like Amazon, Apple, and Netflix have seen significant returns. Now, three new companies are being highlighted for their growth potential.



Read more at Nasdaq: Should You Buy Nvidia Stock Before Nov. 20? Wall Street Has a Clear Answer for Investors.