Where Will Nvidia Stock Be in 10 Years?
If you put $1,000 into Nvidia's (NASDAQ: NVDA) stock in October 2013, your shares would now be worth roughly $115,000, a return of 11,400% over 10 years. And while the semiconductor maker is now likely too large to maintain that level of growth in the future, it can still reward long-term investors as it pivots to new opportunities in artificial intelligence (AI) technology. Let's dig deeper.
Nvidia is a picks-and-shovels play on AI through sales of its advanced graphics processing units (GPUs). This strategy maximizes its market opportunity while minimizing risk.
The company can benefit from successful and unsuccessful clients because they all rely on its chips to build their platforms. And the impact of this growing demand is already being felt in its most recent earnings report.
Source Fool.com
