1 Green Flag and 1 Red Flag for Nvidia Stock
Nvidia (NASDAQ: NVDA) is spearheading the artificial intelligence (AI) revolution. The company's highly advanced processors are helping to power top AI applications, including ChatGPT, Dall-E, and Stable Diffusion, and surging demand for its products has also powered big gains for the company's stock. The processing leader's share price is now up roughly 166% across 2023's trading.
Will the incredible rally continue, or is the red-hot AI growth stock bound to cool off? If you're thinking about buying Nvidia stock or already own it in your portfolio, read on for a look at one green flag and one red flag that could impact the company's share price going forward.
After beating performance targets in the first quarter, Nvidia expects to grow sales by 53% on a sequential basis in the current quarterly period to reach revenue of $11 billion. Prior to the company's Q1 report and guidance, the average Wall Street target had called for $7.15 billion in sales in Q2.
Source Fool.com
