Posted 1/26/2024, 12:55:00 PM
Nvidia Stock Soars to Record Highs on Surging AI Chip Demand and Strong Growth Projections
- Nvidia stock is up over 20% year-to-date, hovering around all-time highs along with the broader market
- Nvidia's chips are in high demand for AI applications like training generative models, a fast-growing market
- Revenue, profits, and cash flow are surging for Nvidia, with projections of further growth
- Despite hitting a $1.5 trillion valuation, Nvidia may still be undervalued compared to competitor AMD
- Long-term AI trends support building a long-term position in Nvidia stock using dollar-cost averaging