Nvidia (NVDA 1.48%) stock has delivered staggering gains over the past decade, and specifically since generative artificial intelligence (AI) rolled around a few years ago, but it has stalled over the past few months.
Investors may be wondering whether it still makes sense to buy Nvidia stock.
If you'd invested $10,000 even one year ago, you'd still be doing pretty well.
Image source: Nvidia.
Nvidia was a relatively unknown name before the generative AI revolution launched at the end of 2022, but now most of the world knows that it's responsible for the powerful graphics processing units (GPUs) that drive today's AI apps. Unlike many hyped-up tech stocks, Nvidia proves over and over again every quarter how crucial its services are to AI development and how much opportunity it has.
The market had been in high anticipation of the company's fourth-quarter report, released on Thursday, and as usual, it blew past analyst expectations on the top and bottom lines. Not only that, but growth accelerated from last quarter, demonstrating that the investing thesis still holds.
NASDAQ: NVDA
Key Data Points
If you'd decided to invest $10,000 in Nvidia stock a year ago, it would have been just before the stock plummeted along with the market in April, and you might have regretted it. But if you'd held on instead of panic-selling, you'd be in an excellent place today. Not only would you have $4,190 more than when you started, but you'd also be beating the market, which itself has done very well over the past year.
Data by YCharts,
Will that continue? It's subject to debate, but since the market is down on Nvidia right now, it might be a great time to buy in if you missed last year's gains.
