A Few Years From Now, You'll Wish You Had Bought This High-Growth Stock
Many investors find it difficult to buy into a stock after it has already made a big run higher. Nvidia (NASDAQ: NVDA) certainly fits into that category. Its shares have soared by an astounding 515% just since the start of 2023.
That's because its data center business has exploded with the onset and growth of artificial intelligence (AI). Generative AI applications continue to roll out, and Nvidia is the leading supplier of platforms for the high-performance computing power it requires.
Nvidia's stock thundered higher as revenue in its data center segment mushroomed. The segment generated $18.4 billion in revenue for Nvidia's fiscal 2024 fourth quarter ended Jan. 28. That compares to $15 billion from that business segment for the entire fiscal year 2023. So it shouldn't be a surprise that the company's stock price also took off.
Source Fool.com
