Where Will Nvidia Stock Be in 5 Years?
With shares up by 2,800% since 2019, Nvidia (NASDAQ: NVDA) demonstrates the life-changing potential of long-term investing. An investor who purchased just $1,000 worth of the stock back then would have $28,000 today. That said, past performance is no guarantee of future returns. Let's dig deeper to see if the iconic chipmaker still has millionaire-maker potential over the next five years and beyond.
In the weeks after Nvidia reported better-than-expected second-quarter (ended July 28) earnings on Aug. 28, there was a bit of a disconnect between the company's stock price and its performance. The market didn't seem particularly impressed, even after the chipmaker's revenue jumped 122% year over year to $30 billion and profits soared 168% to $16.6 billion.
However, management used its three-day AI Summit, which ran from Oct. 7 to Oct. 9, as an opportunity to stoke optimism about its hardware business. At the conference, CEO Jensen Huang introduced exciting new use cases for the technology, including "physical AI," which are autonomous robots interacting in the real world.
Source Fool.com
