1 Monster AI Growth Stock Up 43,670% Since 2000 to Buy Now and Hold Long Term
Nvidia (NASDAQ: NVDA) invented the graphics processing unit (GPU) in 1999. That innovation has since revolutionized the media and entertainment industry, bringing sensational visual effects to video games, film, and professional design applications. The company's GPUs have also become the gold standard in accelerating complex data center workloads, like artificial intelligence (AI) and analytics.
Nvidia created tremendous value for shareholders as those events unfolded. Its stock has soared 43,670% since 2000, compounding at 28.6% annually. At that pace, $5,000 invested in the company 24 years ago would be worth $2.1 million today. Similar returns in the future are beyond the realm of possibility, but Nvidia stock could still be a rewarding investment. Here's why.
Nvidia was the best-performing stock in the S&P 500 last year, but Wall Street was on edge when the company announced fourth-quarter results last week. Some analysts expected the stock to pullback significantly following the report, simply because expectations were so lofty. But the company delivered another drop-the-mic performance, beating estimates on the top and bottom lines, and the stock moved 10% higher on the news.
Source Fool.com
