NVDA - This Artificial Intelligence (AI) Stock Is Outperforming Nvidia. Can It Keep Doing So?
2024-07-18 06:55:00 ET
Share prices of CrowdStrike (NASDAQ: CRWD) have taken off since the beginning of June, with impressive gains of 22% as of this writing. There are a couple of reasons behind the cybersecurity specialist's robust rally that helped it outpace one of the hottest stocks on the market during this period: Nvidia (NASDAQ: NVDA) .
It's worth noting that CrowdStrike's gains over the past month are almost double the 11% jump that Nvidia stock has registered. Much of the jump can be attributed to the cybersecurity company delivering impressive fiscal 2025 first-quarter results (for the three months ended April 30) at the start of June. CrowdStrike beat Wall Street's expectations and raised its fiscal 2025 guidance .
The company's impressive results were followed by news that it would join the S&P 500 index, and that gave the stock another shot in the arm. These positive developments go a long way to explaining why CrowdStrike stock is up nearly 50% in 2024.
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This Artificial Intelligence (AI) Stock Is Outperforming Nvidia. Can It Keep Doing So?