Is Nvidia Stock a Buy?
Even casual investors are likely well aware of Nvidia's (NASDAQ: NVDA) meteoric rise this year. The stock has skyrocketed by 235% since Jan. 1 as the company delivered multiple quarters of record earnings.
An explosion in demand for artificial intelligence (AI) applications saw the tech giant transform from a video games-centered company into one of the most powerful suppliers of data center chips. Nvidia has carved out a lucrative role in the industry thanks to its years of dominance in graphics processing units (GPUs). While competition in the software side of AI has grown intense, Nvidia is cashing in by supplying its hardware to the many companies joining the sector.
Despite the run-up in the company's share price this year, Nvidia likely still has more growth to offer new investors. The AI market is expanding rapidly, with chip demand soaring right along with it.
Source Fool.com
