Should You Buy Nvidia Before Oct. 7?
Investors have flocked to artificial intelligence (AI) stocks in recent times thanks to the technology's promise of revolutionizing everything from our daily lives to how businesses are run. And we're just at the beginning of this high-growth story. Today's $200 billion market is forecast to reach beyond $1 trillion by the end of the decade.
All of this has translated into double-digit gains this year for many companies that support the development of AI -- or are developing AI themselves. At the head of the pack is Nvidia (NASDAQ: NVDA). The global AI chip leader has seen its stock price soar about 135% so far this year. Nvidia's graphics processing units (GPUs) are the fastest on the market, and customers have recognized this, helping push Nvidia's revenue to triple-digit gains quarter after quarter.
It's no surprise that Nvidia shareholders and potential investors closely watch this company's every move for clues about what's ahead -- and use this to make investing decisions. And now, they may be looking to Nvidia's AI Summit beginning Oct. 7 as a potential catalyst. Should you buy Nvidia stock before the event? Let's find out.
Source Fool.com
