NVIDIA Corporation (NASDAQ:NVDA) is a renowned company in the technology industry that specializes in computer graphics processors, chipsets, and multimedia software. With its headquarters in Santa Clara, California, NVIDIA has established itself as one of the key players in the market.
Despite the overall positive performance of the major indices in 2023, O’keefe Stevens Advisory, an investment advisory firm, expressed their focus on a specific group of stocks that they refer to as the “magnificent seven.” These stocks have been the driving force behind the year’s gains. In their third-quarter 2023 investor letter, O’keefe Stevens Advisory highlighted NVIDIA Corporation (NASDAQ:NVDA) as one of their top picks.
As of November 17, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $492.98 per share, presenting a one-month return of 14.71% and a remarkable 221.85% gain in value over the past 52 weeks. The market capitalization of NVIDIA Corporation (NASDAQ:NVDA) is an impressive $1.218 trillion.
O’keefe Stevens Advisory had mentioned in their investor letter the reasons behind their decision to actively reduce their position in NVIDIA Corporation (NASDAQ:NVDA) during the third quarter of 2023. They recognized the company’s exceptional business, strong management, and promising outlook. NVIDIA Corporation (NASDAQ:NVDA) holds a dominant market share in a rapidly growing industry, with competitors struggling to catch up. The expected gross margin of the company by 2024 is projected to exceed 70%. Furthermore, the company exhibits substantial revenue growth and an impressive return on equity.
NVIDIA Corporation (NASDAQ:NVDA) has consistently proven itself as a leader in the technology sector. Its success can be attributed to the capable and aligned leadership of Jensen Huang, the CEO of the company. Jensen’s commitment to the business is evident through his decision to reduce his own salary to $1 during challenging times.
FAQ:
Q: What does NVIDIA Corporation (NASDAQ:NVDA) specialize in?
A: NVIDIA Corporation (NASDAQ:NVDA) specializes in computer graphics processors, chipsets, and multimedia software.
Q: What is the stock price of NVIDIA Corporation (NASDAQ:NVDA)?
A: As of November 17, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $492.98 per share.
Q: Who is the CEO of NVIDIA Corporation (NASDAQ:NVDA)?
A: Jensen Huang is the CEO of NVIDIA Corporation (NASDAQ:NVDA).
Q: How has NVIDIA Corporation (NASDAQ:NVDA) performed in the last 52 weeks?
A: Over the last 52 weeks, NVIDIA Corporation (NASDAQ:NVDA) has gained 221.85% in value.
Sources:
– Insider Monkey: [link to the original article]