Nvidia Stock Soars 50% on Booming Data Center Revenue and Bullish Growth Outlook
• Nvidia stock has surged over 50% year-to-date in 2024 due to strong earnings and guidance • Multiple analysts have raised their price targets to $1,000 or more based on explosive revenue growth • Data center revenue was up 409% year-over-year, driven by AI and other emerging technologies • EPS is expected to soar 586% in fiscal 2024 to $11.93, justifying a high valuation • Competition and peaking generative AI demand present risks to evaluate before investing