Is Nvidia Stock a Buy Now?
Nvidia (NASDAQ: NVDA) won over Wall Street last year, illustrated by its more than 210% stock growth since January 2023.
The company's years of dominance in graphics processing units (GPUs) perfectly positioned it to profit significantly from a boom in artificial intelligence (AI) as demand for the chips skyrocketed. As a result, Nvidia's quarterly revenue and free cash flow are up 200% and 360%, respectively, in the last 12 months.
Nvidia's meteoric rise has some analysts questioning whether the company has much more to offer investors in 2024. However, trends in the chip market indicate Nvidia will have little problem retaining its leading market share in AI GPUs, despite new offerings from Advanced Micro Devices and Intel.
Source Fool.com
