300 Billion Reasons to Buy Nvidia Stock Like There's No Tomorrow

After a huge run higher, Nvidia (NASDAQ: NVDA) stock hasn't even been keeping up with the overall market in recent months. There are several reasons for that, but the big question for investors is whether it's now time to take advantage of Nvidia's stagnant share price.The stock soared about 85% over the last year, yet it is lower than it was four months ago, even as the S&P 500 has a total return of about 4% in that time. But now it looks like there are over 300 billion more reasons to buy the stock. That's because several big tech companies plan to spend as much as $320 billion on data centers and artificial intelligence (AI) infrastructure over the next year.Nvidia's recent success is relatively easy to explain. Its advanced AI graphics processing unit (GPU) chips are in high demand. Using management's guidance for its soon-to-be-reported fiscal fourth quarter, revenue for the fiscal year ended in late January should show year-over-year growth of about 110%. That's especially impressive considering quarterly revenue is approaching $40 billion.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool