I'm Buying More Nvidia Stock Right Now. Here's Why.
Nvidia stock is having a good year, but it hasn't been as strong as investors may have expected.
Overview
Nvidia (NASDAQ: NVDA) has grown into the world's largest company, with a market cap of more than $5 trillion. Its graphics processing units (GPUs) are the gold standard for training and running high-level computing and artificial intelligence programs.
Some people may, however, look at Nvidia's stock price and think that the shine is coming off Jensen Huang's company. Shares are up 21% so far this year, which is fine, but that's not even close to the 239% gain in 2023, the 171% jump in 2024, or even last year's 39% increase. Meanwhile, stocks like Sandisk, Micron, and Intel are all up more than 200% this year and have become Wall Street darlings.
Details
Are Nvidia's best days in the rearview mirror? Absolutely not. While the chipmaker may not replicate its massive 2023 gain, Nvidia remains an incredibly profitable company whose growth story is far from over. In fact, I think Nvidia is going to be putting up some wild numbers in the next two or three years, and that's why I'll be buying more Nvidia shares.
Source
Originally published at www.fool.com.