![]() ![]() More significantly, Nvidia Corporation's most recent quarterly top line were +7% and +5% higher than the company's management guidance and Wall Street analysts' consensus sales estimate, respectively. NVDA's Q1 FY 2022 (YE January 31) revenue was $5,661 million, which represented a +84% YoY and a +13% QoQ increase. I think that Nvidia stock is going up for three key reasons.įirstly, Nvidia Corporation's recent financial performance has been excellent, to say the least, and both its key markets, gaming and data centers, are both doing very well. This is the subject of the next section of my article. To evaluate Nvidia Corporation as a potential investment candidate, it is necessary to know why the company's shares have performed so well, and whether the share price run is justified. NVDA's shares were up +119% last year from $59.84 as of Januto $130.48 as of December 31, 2020. Furthermore, Nvidia's amazing stock price run didn't just start this year. This also implies that Nvidia Corporation's current share price is only -5% off its historical share price peak of $208.75 that was recorded on July 7, 2021. In fact, Nvidia's stock price went up over 40% since January 2021 or the beginning of the year. ![]() Nvidia's stock price has increased by +18% from $167.78 as of Jto $197.50 as of August 2, 2021. This current article is an update of my initiation piece on NVDA that was published two months ago. Nvidia currently trades at consensus forward FY 2023 EV/EBITDA and P/E multiples of 46.1 times and 45.5 times, respectively, and I view Nvidia's stock as a Hold with its lofty valuations as the key reason for not having a Bullish rating on the stock. I think Nvidia stock is going up, because of its good financial performance, a smaller-than-expected negative impact relating to the semiconductor chip shortage, and optimism regarding the Arm acquisition. Nvidia's stock price went up over 40% since January 2021, and its current share price is only -5% below its all-time historical high registered in early July 2021. I still keep my Neutral rating for Nvidia Corporation ( NASDAQ: NVDA). Justin Sullivan/Getty Images News Elevator Pitch ![]()
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