Prediction: Nvidia's Big Stock Pullback Will Lead to Even Bigger Gains by Year's End
Nvidia (NASDAQ: NVDA) is the most-watched tech stock. There's no question. Its upcoming earnings, which come after the majority of the industry and all of the "Magnificent Seven" have already reported, are hotly anticipated.
As the centerpiece of the artificial intelligence (AI) revolution, Nvidia saw its revenue skyrocket from the end of 2022 to now. It couldn't sell its Superchips fast enough -- literally, at its peak, there was an 11-month backlog for them. This extreme demand led to incredible pricing power and the ability, it seemed, to print money.
For the last four consecutive quarters, Nvidia grew its earnings per share (EPS) by more than 400% year over year. The market reacted, sending the company's stock on a rapid ascent, more than tripling from July 2023 through July 2024. Maybe some investors thought the ride would never stop, but since its peak in mid-July, the stock is down about 8%.
Source Fool.com
