Nvidia Is Still The Best AI Stock But Has An Over-Owned Problem
Portfolio Pulse from The Arora Report
Nvidia (NASDAQ:NVDA) remains the top AI stock despite being over-owned, which means that anyone who was going to buy has already bought. The company reported Q2 revenues of $13.5B and is guiding revenues of $16B for the current quarter. Nvidia's Q2 data center revenues were $10.32B, up 141% from Q1. The company is also authorizing an additional $25B in share buyback. Despite the risks, including new competition, Nvidia's valuation could reach $756 per share by 2026.
September 11, 2023 | 3:52 pm
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Nvidia's strong Q2 earnings and projected revenues, along with its $25B share buyback authorization, could potentially drive its stock price up. However, the stock being over-owned could limit its short-term growth.
Nvidia's strong earnings and revenue guidance, as well as its share buyback program, are positive indicators for its stock price. However, the fact that the stock is over-owned suggests that most potential buyers have already bought, which could limit the stock's short-term growth potential.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100