3 Reasons to Buy Nvidia Like There’s No Tomorrow (Hint: The Stock Split Isn’t 1 of Them)

From Nasdaq: 2024-06-16 12:01:00

Shares of Nvidia (NASDAQ: NVDA) have surged by 217% in the past year driven by demand for AI-capable chips and systems. In fiscal Q1, revenue spiked by 262% and earnings by 690%, with analysts predicting further growth to $120 billion in revenue and $2.71 EPS for the fiscal year. The data center business saw a staggering 427% increase in revenue to $22.6 billion, highlighting Nvidia’s dominance in accelerated computing. Nvidia continues to innovate with new products such as the Grace Hopper Superchip and Blackwell architecture chips, capitalizing on the growing demand for AI solutions worldwide. With a focus on expanding production capacity and introducing cutting-edge AI products, Nvidia remains well-positioned for long-term growth in the AI industry. Expanding into areas such as sovereign AI and physical AI, Nvidia is leveraging its AI platform to tap into new markets and opportunities for growth. Despite a high share price, the strong growth drivers present a compelling case for investing in Nvidia now. The Motley Fool Stock Advisor team has identified Nvidia as a top stock to watch, offering potential for significant returns in the future.



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