Nvidia (NVDA) Stock Analysis: Tech Giant Posts 122% Revenue Growth as AI Demand Soars
TLDR:
- NVIDIA currently trading at $140.52, showing strong performance after Q3 2024 earnings
- Revenue hit $30 billion, up 122% YoY, with EPS beating estimates at $0.68
- Stock up 923% in past two years, driven by AI-related growth and data center demand
- Major customers concentration poses risk despite dominant market position
- Trading at 36x forward earnings with analysts projecting continued but variable growth through 2030
NVIDIA (NASDAQ: NVDA) continues to ride the artificial intelligence wave, with its stock trading at $140.52 as of October 29, 2024, following exceptional Q3 2024 earnings results that showcased the company’s dominant position in AI hardware.
The chip giant reported quarterly revenue of $30 billion, marking a 122% increase…
