Does Nvidia stock still have enough mojo to buy?
The post Does Nvidia stock still have enough mojo to buy? appeared com. Despite posting blockbuster Q3 results yesterday evening, the post-earnings rally in Nvidia (NVDA) stock faded in Thursday’s trading session from a +5% spike to a 3% dip and below its 50-day moving average of $184 a share. The short-term stall in momentum has correlated with AI bubble concerns and export restrictions on chips to China. That said, headlines are highlighting Nvidia CEO Jensen Huang’s comments that sales for its state-of-the-art Blackwell GPUs have been off the charts, with GPUs that are delivered through cloud platforms being sold out. On top of this, NVDA still has rewarding year-to-date gains of more than +30% which have added to its infamous returns over the last decade. 30. These figures topped consensus estimates by more than 4% respectively. However, what really points to Nvidia still having its mojo and backs Jensen Huang’s comments in regard to surging demand for Blackwell GPUs, is that the tech giant’s top line stretched 22% from sales of ONEY_-7617858751715468714. 74 billion last quarter. This sequential gain is far higher than typical periods and marked one of the largest jumps in the chipmaker’s stellar history. Most importantly, such remarkable growth quiets fears of increased competition from AMD (AMD) and other chipmakers. Nvidia’s guidance and growth drivers Nvidia’s revenue guidance should also serve as a mojo driver, expecting Q4 sales at what would be a new quarterly peak of $65 billion plus or minus 2%, and above Wall Street’s expectations of $60. 57 billion (Current Qtr below). Furthermore, Nvidia’s lifted outlook shows the AI demand explosion is very much alive, with AI training and inference workloads growing exponentially and fueling its dominance in. Continue reading Does Nvidia stock still have enough mojo to buy?
