Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 27, 2022

Article Excerpt

NVIDIA CORP., $188.11, Nasdaq symbol NVDA, remains a buy for 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, datacentres and self-driving cars. Nvidia continues to benefit from pandemic restrictions that spurred strong consumer demand for computer gaming systems. The shift by businesses to cloud-computing platforms as employees continue to work remotely is also fuelling sales of datacentre chips. In its fiscal 2023 first quarter, ended May 1, 2022, revenue jumped 46.4% to a record $8.29 billion from $5.66 billion a year earlier. That beat the consensus forecast of $8.10 billion. If you exclude costs related to the recent cancellation of an acquisition and other unusual items, Nvidia earned $3.44 billion in the quarter. That’s up 48.9% from $2.31 billion a year earlier. Earnings per share gained 49.5%, to $1.36 from $0.91 (all per-share amounts adjusted for…