1 Favorable Trend Explains the 1,600% Rise in Nvidia's Stock Price
Nvidia's (NASDAQ: NVDA) shares are on fire -- but this isn't a short-term phenomenon. The chip designer's stock has been on the rise for a few years. It took off in 2020, and since that time, it's soared more than 1,600%.
Investors have piled into the stock on optimism about the company's position in artificial intelligence (AI), a market forecast to grow in the double digits to more than $1 trillion by the end of the decade. Today, Nvidia is the world's AI chip leader, with a market share of more than 80%. But that isn't the only reason investors are excited about the stock. One favorable trend explains why Nvidia shares have become unstoppable.
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Source Fool.com
