In the generative artificial intelligence (AI) megatrend, there's arguably no bigger winner than Nvidia (NASDAQ: NVDA) -- the chipmaker that produces the hardware needed to train and run these applications. The company's "picks and shovels" approach has made it a Wall Street darling, with shares up by a whopping 78% in 2024.

But should investors keep piling into the stock? Let's dig deeper to find out what the next five years could have in store.

At first glance, the company's parabolic rally over the last two years might look like a classic speculative bubble, but this doesn't seem to be the case. The company's fundamentals justify its stock-price performance, and stellar fourth-quarter results highlight its ongoing momentum.

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Source Fool.com