Nvidia (NASDAQ: NVDA) stock has more than tripled over the past year alone, to trade at just over $1,208 as of the market close on Friday, June 7. That price made it somewhat inaccessible to smaller investors, because buying one full share might have taken up a disproportionate amount of their portfolio.

To solve that problem, Nvidia executed a 10-for-1 stock split (effective on June 10), which increased the number of shares in circulation tenfold, in order to organically reduce the price per share by 90%. As a result, investors can now buy one share in Nvidia for just $120 or so.

Some Wall Street analysts think the stock split will send Nvidia shares higher in the short term because it attracts a broader investor base, but it's important to remember that it hasn't changed the fundamental value of the company. Here are three better reasons to buy Nvidia stock.

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Source Fool.com