Nvidia (NASDAQ: NVDA) is facing a challenging June, with its shares down 8% amid shifts in market leadership from AI leaders to manufacturers in memory and data storage. Despite the downturn, Nvidia’s revenue surged 85% and adjusted earnings rose 139% in the last quarter. The stock is currently trading at approximately $194.97, which reflects a price-to-earnings ratio of less than 22 for this fiscal year and about 15 for the next fiscal year starting in late January 2024.
As of now, Nvidia is still recognized as a major player in AI, and analysts project earnings of $8.97 per share this fiscal year, increasing to $12.76 in fiscal 2028. Over the past year, Nvidia’s stock is up 24%, and over the last five years, it has yielded nearly 10 times the original investment. The company will next report its financials in late August.
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