Many companies boast of AI abilities, but Nvidia stands out for its chips, which are essential to AI systems. Nvidia spent years developing its AI-optimized products, giving it a strong economic moat.
The last run-up from 2019 to the end of 2021 came crashing down. AI has more staying power than cryptocurrency.
Investors welcomed Nvidia's recent stock split, which significantly lowered the price of each individual share. The stock climbed 150% in the first half of the year.
The high-flying AI stock just completed a 10-for-1 split. It's important to know exactly what that means.
By one estimate, artificial intelligence (AI) could add north of $15 trillion to the global economy by 2030. Nvidia has scaled its operations unlike any market leader before it.
Many investors seem to think Nvidia is undervalued despite its sky-high earnings multiple. Nvidia would need to deliver massive growth to be undervalued using popular valuation models.
Wall Street remains fixated on Nvidia (NASAQ: NVDA ) stock today after Truist raised its price target to $140 from $128 per share, representing about 13% from current prices. Indeed, just weeks after overtaking Microsoft (NASDAQ: MSFT ) as the world's most valuable publicly traded company, Truist believes the runway is just opening up for Nvidia.
The Motley Fool Money podcast also has two stocks not named Nvidia that are worth watching: Old Dominion Freight Line and McCormick.
Shares of Nvidia rose 150% in the first half of 2024 — outpacing by a factor of 10 the S&P 500's 15% increase, according to the Wall Street Journal.
Nvidia just announced a new reference architecture for cloud providers that want to grow their AI infrastructure.
As the first half of 2024 draws to a close, it brings more eye-popping statistics that capture Nvidia Corp.'s rise.
Large-cap technology stocks, particularly those associated with the AI trade, have faced considerable pressure over the last week or so, perhaps raising the eyebrows of many investors.