Bitcoin fever fuels Nvidia

Article Excerpt

NVIDIA CORP. $242 (Nasdaq symbol NVDA; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 606.0 million; Market cap: $146.7 billion; Price-to-sales ratio: 15.1; Dividend yield: 0.2%; TSINetwork Rating: Average; www.nvidia.com) continues to find new uses for its graphic chips. Those include powering the “mining” of cryptocurrencies like bitcoin. Miners use powerful computers to decode and verify bitcoin transactions. Nvidia’s earnings in its fiscal 2018 fourth quarter, ended January 31, 2018, jumped 52.2% to $1.72 a share from $1.13 a year earlier. Revenue gained 34.0%, to $2.9 billion from $2.2 billion. The stock has soared 125% in the past year. However, it now trades at a high 38.8 times the $6.24 a share the company should earn for the year ending January 31, 2019. Nvidia is still a hold. hold…