Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, August 30, 2024

Article Excerpt

NVIDIA CORP., $119.37, Nasdaq symbol NVDA, remains a buy, but only for highly  aggressive investors. The company is a leading designer of 3D-capable video chips; they make video games run more smoothly and appear more lifelike. Nvidia has also adapted its chips for other applications, including artificial intelligence (AI), datacentres and self-driving cars. Nvidia’s latest quarterly results topped expectations. However, delays shipping its new Blackwell chips, which will power AI applications, caused the stock to fall 9% this week. In its fiscal 2025 second quarter, ended July 28, 2024, Nvidia’s revenue soared 122.4%, to $30.04 billion from $13.51 billion a year earlier. That easily beat the consensus forecast of $27.8 billion. In addition to AI chips, demand for chips that power self-driving cars and high-end graphic displays remains strong. Earnings before unusual items also jumped 151.9% in the quarter, to $0.68 a share (or a total of $16.95 billion) from $0.27 a share (or $5.74 billion). That also beat the consensus estimate of $0.64….