2023-12-05 07:20:00 ET
Semiconductor giant Nvidia (NASDAQ: NVDA) experienced outsized revenue growth this year thanks to the rise of artificial intelligence (AI). The company makes graphics processing units (GPUs), which were initially developed for use with video gaming computers -- but thanks to the power of these GPUs, they're now employed for advanced computing tasks, such as running AI systems.
Nvidia's 2023 success drove the company's shares upward, hitting a 52-week high of $505.48 on Nov. 20. Yet in the days after releasing its fiscal third-quarter earnings on Nov. 21, Nvidia's stock price fell.
Does this dip create an opportunity to invest in this AI stock, especially if you're willing to hold onto shares for the long term? Or does the drop in price signal a possible red flag? A look into Nvidia in more detail can help to answer these questions.
For further details see:
Is Artificial Intelligence (AI) Stock Nvidia a Good Long-Term Investment?