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Nvidia (NASDAQ: NVDA) reported a 69% year-over-year increase in revenue for the fiscal 2026 first quarter, ended April 27, with non-GAAP earnings per share rising from $0.61 to $0.81, despite a $0.15 loss per share linked to unfulfilled orders to China. Currently, Nvidia controls approximately 95% of the AI chip market and recorded a 73% growth in its data center business year-over-year during the same quarter.
Despite recent stock momentum losing traction after a historic 1,400% gain over the past five years, 90% of the 67 Wall Street analysts covering Nvidia still recommend it as a buy. The company’s forward one-year P/E ratio is about 25, reflecting reasonable pricing, though future growth rates are expected to decelerate. Nvidia continues to innovate with upcoming products like the Blackwell Ultra and the Rubin chips set to release next year.
Concerns arose following the introduction of Chinese LLM DeepSeek, which performed well without Nvidia’s chips; however, those worries have subsided as Nvidia remains a key player in AI infrastructure, being described by CEO Jensen Huang as essential to global technological advancement.
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