"Shares of NVIDIA Corp. (NASDAQ:NVDA) gained 2.71% over the past five trading sessions after gaining 4.35% the five prior. That has done little to help the stock recover from a correction that began after hitting its all-time high on Oct. 29. Since then, NVDA is down 9.42%. Still shares are up 35.86% on the year. When the company reported Q3 earnings on Nov. 19, it beat on the top and bottom lines when it announced record revenue of $57.0 billion"
"Data center revenue was the primary growth driver, reaching a record $51.2 billion, which marked a 66% year-over-year increase. The last week of October, NVIDIA became the first publicly traded company to surpass a market cap of $5 trillion. In July, the AI chipmaker became the first publicly traded company to hit a $4 trillion market cap in early July."
Shares of NVIDIA gained 2.71% over the past five trading sessions following a 4.35% gain prior, but remain 9.42% below the Oct. 29 all-time high and are up 35.86% year-to-date. Q3 revenue reached a record $57.0 billion with diluted EPS of $1.30, both exceeding analyst expectations, driven by record data center revenue of $51.2 billion, up 66% year-over-year. NVIDIA reached market-cap milestones including surpassing $5 trillion and earlier $4 trillion after joining the $3 trillion club. The company announced plans to invest up to $100 billion in OpenAI, prompting higher analyst price targets. NVIDIA is the premier manufacturer of GPUs and related semiconductors, central to AI growth, with five-year stock gains of more than 1,276.70% and cumulative gains since IPO of 456,275%.
Read at 24/7 Wall St.
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