Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 24, 2024

Article Excerpt

NVIDIA CORP., $1,064.69, Nasdaq symbol NVDA, remains a buy, but only for highly  aggressive investors. The company is a leading designer of 3D-capable video chips; they make video games run more smoothly and appear more lifelike. Nvidia has also adapted its chips for other applications, including artificial intelligence (AI), datacentres and self-driving cars. The stock rose 13% this week due to increasingly strong demand from datacentre operators for chips that power AI applications such as the popular ChatGPT online chatbot/search engine. In its fiscal 2025 first quarter, ended April 28, 2024, Nvidia’s revenue soared 262.1%, to $26.04 billion from $7.19 billion a year earlier. That easily beat the consensus forecast of $24.65 billion. Earnings before unusual items also jumped 461.5% in the quarter, to $6.12 a share (or a total of $15.24 billion) from $1.09 a share (or $2.71 billion). That also beat the consensus estimate of $5.59. Nvidia continues to spend heavily on the development of new products. In the latest quarter, its research costs…