NVIDIA (NASDAQ: NVDA) stock doubled this year, defying critics who claimed that it would run out of steam after more than tripling last year. Many investors are likely wondering if they should simply buy NVIDIA regardless of its past performance, or if they should wait for a pullback to start a position. Let's examine the bull and bear cases to decide.
NVIDIA's core businesses are firing on all cylinders. Last quarter, its gaming GPU revenue rose 25% annually to $1.56 billion, thanks to robust demand for its new GeForce cards. Its data center GPU revenue more than doubled to $501 million, as an increasing number of enterprise customers installed its higher-end GPUs in their data centers for machine learning purposes.
NVIDIA CEO Jensen Huang. Image source: NVIDIA.
Source: Fool.com