NVIDIA's stock outperformed the semiconductor ETF, rising 179.2% YTD, with a bullish outlook from analysts.

From Nasdaq: 2024-12-02 12:45:25

NVIDIA Corporation, a leader in computer graphics and AI technology, has a market cap of $3.4 trillion. The company focuses on scientific computing, AI, autonomous vehicles, and more, serving clients globally. Despite a recent slip from its 52-week high, NVDA stock has outperformed the semiconductor ETF over the past three months.

NVIDIA’s stock has risen 179.2% YTD, outpacing the industry ETF. The company’s success is driven by its diverse businesses in gaming, autonomous vehicles, and AI, with its data center segment dominating revenue. Analysts are bullish on NVDA, with a consensus “Strong Buy” rating and a mean price target suggesting a 25.2% upside from current levels.

In comparison, NVIDIA’s rival, Advanced Micro Devices, Inc., has seen a decline in its shares on a YTD basis. Following its Q3 results, NVIDIA reported an adjusted EPS of $0.81, surpassing Wall Street expectations, and revenue of $35.1 billion, beating forecasts. Mizuho has raised NVIDIA’s GPU sales estimate for 2025 due to increased demand in various sectors.



Read more at Nasdaq: How Is NVIDIA’s Stock Performance Compared to Other Semiconductors Stocks?