NVDA - 2 Large-Cap Stocks That Have Roughly Doubled Nvidia's Returns Over the Past Year
2024-05-25 03:15:00 ET
Chip maker Nvidia (NASDAQ: NVDA) has been one of the great investing stories in tech over the past couple of years. With the emergence of OpenAI's ChatGPT and companies investing heavily in artificial intelligence (AI), Nvidia's business is booming as its chips play a big role in helping companies develop their own AI models. That business boom is helping the stock soar. In the past 12 months, its price is up about 238%.
But as well as Nvidia's stock has done in the past year, there are a couple of other large-cap stocks that have performed even better. Two stocks that have roughly doubled Nvidia's returns over the past 12 months include Super Micro Computer (NASDAQ: SMCI) and Carvana (NYSE: CVNA) . Here's a look at their returns over this time frame and why they have been such hot buys, and whether they still make for good investments today.
With gains of 445%, Super Micro's stock has dwarfed Nvidia's 12-month returns. As with Nvidia, this has become a popular AI investment to own as demand for more servers and greater computing power has made investors bullish on the company's long-term prospects.
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2 Large-Cap Stocks That Have Roughly Doubled Nvidia's Returns Over the Past Year