1 Unlikely Reason Why Nvidia's Magnificent Rally Could Become Unstoppable
Shares of Nvidia (NASDAQ: NVDA) have been red hot on the stock market in 2023, logging gains of 110% already thanks to the massive hype around artificial intelligence (AI) applications.
It is worth noting that Nvidia's terrific gains have come even as the company has been witnessing a steep decline in its revenue and earnings owing to the oversupply of graphics cards used in the personal computer (PC) market. Investors have been betting big on AI to help Nvidia overcome the gaming market's weakness, and it wouldn't be surprising to see the company deliver on that front.
After all, Nvidia is the dominant player in the enterprise GPU (graphics processing unit) market, and its AI-focused cards are reportedly being sold for tens of thousands of dollars. But at the same time, there may be another catalyst in the cards for Nvidia that could help the stock rise further. Let's check it out.
Source Fool.com
