Nvidia stock rising 1.3% despite market sell-offs, driven by positive announcements and high growth potential

From Nasdaq: 2024-12-18 15:41:45

Nvidia (NASDAQ: NVDA) stock is up 1.3% today, reaching as high as 4.8% earlier. The S&P 500 and Nasdaq Composite are down due to hawkish comments from Federal Reserve chairman Jerome Powell. TrendForce’s report on Nvidia’s Blackwell processors and Microsoft’s increased chip purchases could be driving the stock’s rise.

Nvidia also announced the Jetson Orin Nano Super Developer Kit, priced at $249, and has seen a 167% increase in its stock this year. With a forward P/E ratio of 45, there is potential for high growth, but it remains a high-risk investment. The company’s dominant position in AI processors makes it an attractive buy for investors.

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Read more at Nasdaq: Nvidia Is Gaining Today Despite Big Sell-Offs for the S&P 500 — Is It Time to Buy the Artificial Intelligence (AI) Stock?