1 Green Flag for Nvidia in 2023, and 1 Red Flag
Nvidia's (NASDAQ: NVDA) stock has skyrocketed 226% so far in 2023, an impressive turnaround from the 50% drop it experienced amid last year's tech-led bear market. The company has wowed investors by becoming a leader in artificial intelligence (AI). Its role as the top supplier of graphics processing units (GPUs) to OpenAI's ChatGPT has seen it become a go-to for any AI-minded company seeking powerful hardware and services. As a result, Nvidia holds an estimated 80% to 95% market share in AI chips.
The tech giant has massive potential in the future of AI. However, bullish investors have also bid up the stock's valuation. So before going all in on Nvidia stock, it's wise to weigh up the positives and negatives of its business.
Here's one green flag and one red flag for Nvidia in 2023.
Source Fool.com
