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Is Nvidia Stock a Buy Now?

TheMotleyFool

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Is Nvidia Stock a Buy Now?: https://g.foolcdn.com/editorial/images/755920/gamer-pc-green-room.jpg

Nvidia (NASDAQ: NVDA) posted its latest earnings report on Nov. 21. For the third quarter of fiscal 2024, which ended on Oct. 29, the chipmaker's revenue surged 206% year over year to $18.12 billion and exceeded analysts' expectations by $2.01 billion. Its adjusted EPS skyrocketed 593% to $4.02 and cleared the consensus forecast by $0.63 per share.

Nvidia's growth rates were astounding, but its stock price dipped after the report. Is Nvidia running out of steam after rallying more than 240% this year? Or does its post-earnings pullback represent a good buying opportunity for long-term investors?

Image source: Getty Images.

Source Fool.com