Nvidia's Stock Is Up Over 80% This Year. Is It a Buy?
In the past year, Nvidia (NASDAQ: NVDA) has given shareholders quite a roller coaster ride. Since the beginning of 2023, Nvidia's stock has been up over 80%. However, that comes on the heels of a 50% drop in 2022.
With how much Nvidia's stock has risen in 2023, many investors may question if they've missed the move on Nvidia's stock or if there is more room to go, as the stock is still down 18% from its high. So let's look and determine if Nvidia has reached its ceiling.
Nvidia depends on one thing: graphic processing units (GPUs). After all, these pieces of computational equipment don't just make visuals in gaming computers; they can be used to process calculations, run data centers, and create powerful artificial intelligence (AI) solutions.
Source Fool.com
