Missed the Nvidia Train? 2 Artificial Intelligence (AI) Stocks to Buy Instead
The Nvidia (NASDAQ: NVDA) juggernaut is showing no signs of stopping as the semiconductor behemoth delivered another set of stunning results for the first quarter of fiscal 2025 (for the three months ended April 28) on May 22 that easily crushed Wall Street's expectations.
While Nvidia's revenue jumped a whopping 262% year over year to $26 billion, its non-GAAP earnings shot up 461% to $6.12 per share. Analysts would have settled for $5.60 per share in earnings on revenue of $24.6 billion. What's more, Nvidia has guided for fiscal second-quarter revenue of $28 billion at the midpoint of its guidance range, which would be more than double the $13.5 billion revenue it posted in the prior-year period and well above the $26.6 billion consensus estimate.
There were more goodies in store for Nvidia investors as the company increased its quarterly-cash dividend by 150% and also pointed out that it will start shipping its next-generation Blackwell chips ahead of schedule. All this indicates that Nvidia's red-hot stock market rally is here to stay. The stock has jumped 115% in 2024 already, and its latest results and guidance point toward more gains.
Source Fool.com
