If you like 5G stocks as much as I do, then you’re likely a big fan of Nvidia (NASDAQ:NVDA), NVDA stock and the semiconductor company’s commitment to innovation and state-of-the-art technology.
While the stock market shuddered in February, Nvidia just kept rolling along. Nvidia stock has gained 11% since the beginning of last month thanks to a solid earnings report and excellent commentary from analysts.
That said, let’s take a closer look at NVDA stock — which is one of my top Growth Investor recommendations right now.
NVDA Stock by the Numbers
It’s no question that 2018 wasn’t a great year for Nvidia. The stock fell sharply in the back half of the year, losing nearly a third of its value into 2019.
However, the past is the past. And NVDA stock reached an all-time high of about $315 in mid-February before slipping a bit due to the coronavirus from China amid the broader market selloff.
Furthermore, fourth-quarter earnings had NVDA’s revenue at $3.31 billion — a 41% increase from the previous year — and earnings at $1.89 per share. The company said it had better-than-expected AI revenue growth, as well as solid growth from its gaming business.
Looking ahead, the company is expecting revenue of $3 billion — plus or minus 2% — for the first quarter, which slightly beats analysts’ expectations. However, this is a change from the company’s previous guidance due to possible headwinds from the coronavirus.
That said, it’s no wonder the bulls love NVDA stock.
Current Catalysts for Nvidia
Moreover, one of the biggest reasons to like NVDA right now is its graphic processing unit (GPU). This is the signature technology that sets Nvidia apart in the semiconductor space.
The GPU makes modern video games and computer-generated graphics in movies possible. So with the video game industry likely generating around $152 billion in 2019 and growing about 10% per year, Nvidia is set to cash in…