Nvidia stock update

– Nvidia Corporation has ripped and charted new heights way above the previous November 2021 top, thanks to the Q1 FY2024 double beats and management's stellar forward guidance.

– The demand for AI chips appears to be at a fever pitch, boosting Nvidia Corporation's projected Q2 FY2024 top line by +54% QoQ/ +64% YoY, returning to its previous high-growth cadence.

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The AI Investment Thesis Is Too Volatile At These Height

NVIDIA Corporation (NASDAQ:NVDA) to its highest-ever stock price of $401.11 at the time of writing.

the launch of ChatGPT in November 2022, further boosted by the management's stellar FQ1'24 double beats and FQ2'24 forward guidance.

NVDA has guided an eye-popping revenue of $11B (+52.9% QoQ/ +64.1% YoY) for the next quarter, well exceeding the consensus estimates by +54.7%.

NVDA's Head & Shoulder Pattern In 2021/ 2022

Then again, part of the enthusiasm may be attributed to the early recovery in NVDA's other offerings, including the Gaming segment at $2.24B (+22% QoQ/ -38% YoY),

What's Next?

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