This Artificial Intelligence (AI) Stock Is a "Magnificent Seven" Leader. But Is It a Buy?
With a market cap of nearly $3 trillion, Nvidia (NASDAQ: NVDA) is now one of the most valuable companies in the world. Even after a recent pullback, it remains one of the largest of the "Magnificent Seven" stocks. According to new research from The Motley Fool, Nvidia has gone from "the smallest contributor to the Magnificent Seven, at just 0.8% of the combined value, to the second largest at 18.7%."Since Nvidia supplies crucial components for artificial intelligence (AI), a technology that has caused huge upticks in cloud-computing demand in recent years, the chipmaker is majorly responsible for driving the substantial growth posted by the rest of the cohort in the Magnificent Seven, such as Microsoft.Nvidia is an incredible business with robust demand, but is the stock still a buy even though so many investors are aware of this story? If you've been searching for high-potential growth stocks, keep reading -- it could be a perfect match for your portfolio.Continue reading
With a market cap of nearly $3 trillion, Nvidia (NASDAQ: NVDA) is now one of the most valuable companies in the world. Even after a recent pullback, it remains one of the largest of the "Magnificent Seven" stocks. According to new research from The Motley Fool, Nvidia has gone from "the smallest contributor to the Magnificent Seven, at just 0.8% of the combined value, to the second largest at 18.7%."
Since Nvidia supplies crucial components for artificial intelligence (AI), a technology that has caused huge upticks in cloud-computing demand in recent years, the chipmaker is majorly responsible for driving the substantial growth posted by the rest of the cohort in the Magnificent Seven, such as Microsoft.
Nvidia is an incredible business with robust demand, but is the stock still a buy even though so many investors are aware of this story? If you've been searching for high-potential growth stocks, keep reading -- it could be a perfect match for your portfolio.
