Is It Too Late to Buy Nvidia Stock?
Nvidia (NASDAQ: NVDA) was the perfect stock to ride the demand for artificial intelligence (AI) computing in 2023. The graphics processing unit (GPU) leader saw its growth explode throughout the year. Revenue was up 206% year over year in the fiscal third quarter. That enormous growth spurt sent the stock up 238% in 2023.
It's not common for large companies like Nvidia with billions in annual revenue to suddenly experience this level of growth. Obviously, the demand for AI chips is massive, but investors are probably wondering how much more upside the stock could have in 2024. After all, Nvidia's guidance is pointing to slowing growth.
Here's what you should know about Nvidia's growth outlook before deciding to buy the stock.
Source Fool.com
