Near a New All-Time High, Is Nvidia Stock Still a Buy?
The graphics processing specialist has rebounded from its recent lows. Is it too late to buy?
There's no denying that the emergence of generative artificial intelligence (AI) was the spark that lifted Nvidia (NASDAQ: NVDA) stock to new heights. In recent months, however, the future has been less certain. Concerns about how AI models will evolve and whether they will need the latest and greatest chips sent some investors to the sidelines. In fact, earlier this year, Nvidia stock plunged 37% on fears the company's best days were behind it.
It turns out the sky isn't falling after all. Nvidia has delivered two successive quarters of high-double-digit revenue growth, as demand for AI remains robust. Indeed, the stock is within striking distance of a new all-time high after notching gains of 50% over the past two months.
Let's take a step back and review the opportunity, Nvidia's place in the AI ecosystem, and whether it's too late to buy the stock.
