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Should you buy Nvidia stock (November 2024)

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Published first at Nvidia stock analysis. Ticker: $NVDA Nvidia just reported earnings and the stock fell around 1% in after hours trading. At the latest price the company now has a market cap of 3.57 trillion dollars. Revenue over the last 12 months comes to 121 billion with 63 billion of net income and 56 billion of free cash flow. So Nvidia stock is now valued at 29 times revenue, 57 times earnings and 63 times free cash flow. There’s no doubt that this was a good earnings report from Nvidia. Q3 revenue grew 17% from the previous quarter to 35 billion. That was above expectations and an acceleration in sequential growth. Net income surged to 19.3 billion, a margin of 55%. On the company conference call, Nvidia management said that demand for its latest Blackwell product was staggering. Large companies continue to build out their AI factories. They are developing new AI products and bringing in significant increases in revenue. Recent results out of Google Cloud and Amazon AWS back this up. If there was an issue with today’s report it was the company’s outlook for next quarter. Management expects sequential growth of about 7% which is lower than previous quarters. And gross margins are set to drop to the low 70s as the company rolls out Blackwell. This decrease comes from a higher cost of production and could be a sign that players like TSMC are taking a bigger cut of profits. #investing #stocks #stockmarket #nvidia

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