Nvidia Earnings Pop the Stock Over 8% -- Is Nvidia Stock a Buy Now?

By Eric Cuka – Updated Feb 22, 2023 at 7:02PM

NASDAQ: NVDA

Nvidia

Market Cap

$1,992B

Today's Change

(-3.33%) -$27.46

Current Price

$796.77

Price as of April 24, 2024, 4:00 p.m. ET

Nvidia reported earnings after Wednesday's closing bell, and the stock is climbing higher. Should you buy Nvidia stock at these levels?

Artificial intelligence has been a huge buzzword over the past several weeks as companies such as Microsoft (MSFT 0.37%) and Alphabet (GOOGL 0.55%) (GOOG 0.74%) battle over AI chatbot supremacy. Is AI simply hype, or will pick-and-shovel stocks like Nvidia benefit and reward long-term investors? In today's video, I provide an update on Nvidia (NVDA -3.33%) earnings and technical analysis on where the stock might be headed next.

*Stock prices used were the morning prices of Feb. 22, 2023. The video was published on Feb. 22, 2023.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Eric Cuka has positions in Alphabet, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

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