From Nasdaq: 2024-11-19 15:05:00

NVIDIA Corporation has seen impressive growth, with an annualized return of 33% since its IPO in 1999, the best in two decades. This year, NVIDIA joined the Dow and is now the most valuable company, with shares up 186.8%.

Investors are eagerly awaiting NVIDIA’s third-quarter earnings report, which could impact its share price and the tech sector. Factors like AI server component demand and operational disruptions from suppliers may affect results.

NVIDIA anticipates a strong third-quarter with an 80% sales surge to $32.5 billion and an 85% increase in earnings per share to $0.74. The company’s solid fundamentals and positive earnings history could impact its stock positively.

Encouraging third-quarter earnings may boost NVIDIA’s share price short-term, while factors like high demand for next-gen Blackwell GPU and rising capital expenditures from customers could drive long-term growth and profitability.

NVIDIA’s stock is trading at a reasonable forward earnings multiple of 49.4X, making it less pricey compared to the industry average of 58.5X. With a Zacks Rank #1 (Strong Buy), NVIDIA presents an attractive buying opportunity for investors.

Experts have identified NVIDIA as one of the 7 best stocks to watch in the next 30 days, with strong potential for price pops. The company’s solid financials and growth prospects make it an appealing investment choice for traders and investors alike.



Read more at Nasdaq: NVIDIA Stock: Buy, Hold, or Sell Before Q3 Earnings?