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4 Billion (More) Reasons to Buy Nvidia Stock and Hold Forever

TheMotleyFool

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4 Billion (More) Reasons to Buy Nvidia Stock and Hold Forever: https://g.foolcdn.com/editorial/images/745250/nvda_sankey_q22024.png

After delivering a jaw-dropping outlook three months ago, all eyes were on Nvidia (NASDAQ: NVDA) when the company reported the results of its fiscal 2024 second quarter (ended Jul. 30). Management was calling for revenue of $11 billion, an increase of 64% year over year and 53% sequentially. The company cited strong demand for the processors used for artificial intelligence (AI), driven by the accelerating adoption of generative AI.

The company's guidance was unquestionably bullish, but after a more than 200% run-up in the stock price so far this year, a lot was riding on the results.

And Nvidia did not disappoint.

Source Fool.com

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