NVIDIA (NVDA) Isn’t Going Anywhere
An Analysis on NVDA from Sep-Nov 2024.
Overview and History
NVIDIA originally started as a compute graphics (GPU) manufacturer. Now, NVIDIA is the world’s leading AI computer chip manufacturer, as well as gaming GPU manufacturer. Nvidia is growing as a company and “sales have surged since the start of last year, driving the stock up 833%” (Vena, 2024).
Current Performance
On September 3rd, 2024, NVDA closed at $116.01/share. On November 1st, 2024, NVDA closed at $135.40/share. The overall return was 16.71%.
News and Current Events
NVIDIA will be releasing its quarterly results today, November 20th. Investors are eager and cautious. They want to see what the results will entail. “After achieving triple-digit-percentage year-over-year growth for five consecutive quarters, the company has tried to rein in the market’s expectations, suggesting that its revenue growth this time will only clock in about 79%” (Vena, 2024).
Outlook, Predictions, and My Recommendations
NVIDIA is one of the world’s leading AI manufacturers and developers. With the world leaning more into AI development, more and more companies are depending on NVIDIA. It’s safe to say, NVIDA isn’t going away. With its history and recent developments, I recommend to invest in NVIDIA in the future.
Sources
Financial data is from Yahoo! Finance
Vena, D. (2024, November 2). Should you buy Nvidia Stock before Nov. 20? the evidence is piling up, and here’s what it suggests. The Motley Fool. https://www.fool.com/investing/2024/11/02/should-you-buy-nvidia-stock-before-nov-20-the-evid/
Featured Image is AI Generated
