Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 24, 2023

Article Excerpt

NVIDIA CORP., $477.76, 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 continues to benefit from strong demand for its chips that power AI applications, such as the popular ChatGPT online chatbot/search engine. It’s also seeing better demand  for its video gaming products. In its fiscal 2024 third quarter, ended October 29, 2023, Nvidia’s revenue jumped 205.5%, to $18.12 billion from $5.93 billion a year earlier. That also easily beat the consensus forecast of $16.11 billion. Earnings before unusual items soared 588.2% in the quarter, to $10.02 billion from $1.46 billion. Due to fewer shares outstanding, earnings per share gained 593.1%, to $4.02 from $0.58. That also beat the consensus estimate of $3.39. Nvidia continues to spend heavily on the development of new…