Nvidia is Wall Street's most valuable company. How it got there, by the numbers
Published On Nov 20, 2024, 6:24 PM
Nvidia has reported significantly strong quarterly results, driven by soaring demand for its semiconductors in artificial intelligence applications. The company’s revenue nearly doubled year-over-year, reaching $35.1 billion, with expectations for continued growth into the next quarter. Nvidia's market value has recently overtaken Apple to become the most valuable company in the S&P 500, with its stock price increasing by 195% this year. Investors are focusing on the anticipated success of its upcoming AI chip, Blackwell, as it looks to maintain strong growth.
Stock Forecasts
NVDA
Positive
Nvidia's continued success in the AI sector and strong revenue forecasts suggest a positive outlook. With significant year-over-year growth and a lead in the AI semiconductor market, the company's potential remains strong as it launches new technology. However, the release of earnings also shows slight declines in after-hours trading, indicating some investor caution.
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