Is Nvidia Really an Expensive Stock in 2024?
Nvidia (NASDAQ: NVDA) had an epic 2023 as it rode the wave of new generative AI infrastructure. Demand was insatiable. AI chip sales -- logged under its "Data Center" segment -- soared from $3.6 billion in Q4 fiscal 2023 (which ended Jan. 2023) to $14.5 billion nine months later in Q3 fiscal 2024 (ended Oct. 2023).
Chart source: Nvidia. Chart highlights on Data Center by author.
Based on management's guidance, revenue for full-year fiscal 2024 (ending in Jan. 2024) will come in at roughly $59 billion, a massive increase from $27 billion in the year prior. However, it's a meager amount for a company that currently touts a market capitalization of $1.2 trillion. How expensive is Nvidia stock as 2024 gets underway?
Source Fool.com
