Should You Buy Nvidia Stock This Week?
Nvidia (NASDAQ: NVDA) has climbed a mind-blowing 80% since the start of the year as the company's earnings continue to reach record levels -- and all this is thanks to its dominance in the artificial intelligence (AI) chip market. The tech giant holds more than an 80% share and sells a broad portfolio of products and services to power AI projects.
The secret of Nvidia's success is simple: The company sells the fastest chip around. Today, this is the H100 graphics processing unit (GPU), but Nvidia is set to launch new products in the months and years ahead as it pours investment into research and development (R). The company's R spending rose 18% last year to $8.6 billion.
All this means Nvidia's share price performance may be far from over -- and this week in particular, it may get a boost. Nvidia's holding its GTC AI Conference from Monday through Thursday, featuring a keynote speech by CEO Jensen Huang and more than 900 sessions involving industry experts. This is the first time the conference is being held in person since prior to the pandemic, so excitement is brewing. Should you rush to buy Nvidia stock this week to get in on the action? Let's find out.
Source Fool.com
