Nvidia is expected to report strong Q1 results driven by AI boom and improving supply

From Nasdaq: 2024-05-22 00:03:03

Nvidia (NASDAQ: NVDA) is expected to report Q1 FY’25 results on May 22. With a focus on generative AI, Nvidia’s revenue for the quarter is anticipated to reach $24.6 billion, up 3.8x from last year. The company’s data center business, including Hopper GPU computing, is driving significant growth.

Nvidia’s net income soared to $12.29 billion in Q4. The stock has seen strong gains, rising 610% since early 2021. However, returns were inconsistent year-over-year. Amidst a volatile market, NVDA stock faces challenges but also opportunities for growth, with a current valuation of $925 per share.

As of May 2024, Nvidia has achieved impressive returns: 87% YTD and 3366% total since 2017. In comparison, the S&P 500 returned 11% YTD and 137% total. Trefis Reinforced Value Portfolio has also performed well. Investors will be closely watching Nvidia’s Q1 FY’25 results for future growth prospects.



Read more at Nasdaq: AI Boom, Improving Supply Will Drive Nvidia’s Q1 Results