"Still shares are up nearly 33% 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 and diluted earnings per share (EPS) of $1.30, both of which exceeded analyst expectations. 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. That achievement came just one month after surpassing both Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) in market cap as members of the $3 trillion market cap club."
"The company is the premier manufacturer of components critical to the surge in AI; namely, semiconductors, microchips, and graphics processing units (GPUs). As a result, the Santa Clara, Calif.-based company has seen its stock skyrocket in the recent past. Over the past five years, shares have gained more than 1,276.70%, and since going public in January 1999, NVIDIA's stock is up a preposterous 456,275%."
Shares fell 11.28% from the Oct. 29 all-time high after a correction but climbed 4.35% in the most recent five sessions and remain up nearly 33% year-to-date. Q3 results showed record revenue of $57.0 billion and diluted EPS of $1.30, led by data center revenue of $51.2 billion, a 66% year-over-year increase. The company surpassed $4 trillion and $5 trillion market-cap milestones in 2024 after earlier entering the $3 trillion club. Plans to invest up to $100 billion in OpenAI spurred analyst target increases. AI demand has driven extraordinary multi-year share gains.
Read at 24/7 Wall St.
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