Make no mistake about it — artificial intelligence is powering a technological revolution. Humans now interact with machines and solve problems in ways we never have before.
Nvidia completed a 10-for-1 stock split in June following an incredible run of gains. Stock splits aren't a good reason to buy into a company, but the chipmaker's fundamentals make it an attractive investment.
Nvidia (NASDAQ: NVDA ) continues to lead the AI revolution, driving the Nasdaq and S&P 500 to new highs in 2024. With shares doubling this year and the stock posting eye-watering five-year gains, Nvidia stock remains the pinnacle AI stock to own for the long-term.
An early investor in Amazon and Tesla is predicting that Nvidia could become a $50 trillion company in a decade. However, that valuation seems far-fetched, considering the size of Nvidia's addressable markets.
David Tepper, Israel Englander, and Ken Griffin each made double-digit cuts to their holdings of a top-performing stock in the first quarter. These investors hold some of the market's most-successful technology stocks.
Nvidia continues to get bullish sentiment before its earnings.
The S&P 500 has returned 45% since January 2023, but elevated valuations across the stock market (especially in artificial intelligence stocks) have drawn comparisons to the dot-com bubble. The Gartner Hype Cycle suggests AI stocks are headed for a correction in the not-too-distant future, but the drawdown will probably be less severe than the dot-com crash.
Nvidia's CEO has been selling stock since mid-June. However, he still owns a very large position in the company.
Nvidia (NVDA) reachead $122.45 at the closing of the latest trading day, reflecting a -0.89% change compared to its last close.
The artificial intelligence (AI) rally seems to be gaining momentum all over again due to likely Harris trade.
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