5 Reasons to Buy Nvidia Stock Before Aug. 28
Nvidia's (NASDAQ: NVDA) transformation from a gaming industry specialist to an artificial intelligence (AI) powerhouse has been nothing short of phenomenal. Accounting for roughly 70% to 95% of the chips used in training and inferencing large language models (according to Mizuho Securities), Nvidia has emerged as the biggest beneficiary and enabler of the ongoing AI revolution.
While Nvidia's stock has gained almost 140% in the past year and a dazzling 471% over the past three years, I don't think the positive impact of this multiyear tailwind on Nvidia's share price will be exhausted in a few quarters. There is still room for the stock to grow -- especially after it became more accessible to shareholders following its stock split.
Nvidia has surpassed consensus revenue estimates in 11 of the past 12 quarters and earnings estimates in 10 of the past 12. While that's no guarantee the company will keep surprising the market, investors awaiting the company's upcoming earnings announcement (scheduled for Aug. 28) can be confident it's taking advantage of a huge opportunity. I think Nvidia stock is still a strong buy for the following reasons.
Source Fool.com
