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Nvidia stock soars to all-time high of $140.77 amid robust growth

Published 10/17/2024, 10:00 PM
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NVDA
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In a remarkable display of market confidence, Nvidia Corporation (NASDAQ:NVDA)'s stock has surged to an all-time high, reaching a price level of $140.77. This milestone underscores a period of significant growth for the tech giant, known for its powerful graphics processing units (GPUs) and expanding presence in the fields of artificial intelligence and deep learning. Over the past year, Nvidia has seen its stock value skyrocket, with an impressive 1-year change of 231.15%, reflecting investor optimism about the company's innovative product lineup and strategic market positioning. The all-time high represents not just a peak in Nvidia's stock performance but also a testament to the company's enduring appeal in a competitive technology landscape.

In other recent news, Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chipmaker, has been making waves in the semiconductor industry. TSMC is expected to report a substantial 42% increase in third-quarter profit, according to an LSEG SmartEstimate based on 23 analysts' predictions, primarily driven by the rising demand for artificial intelligence (AI) chips. The company also announced a positive sales forecast, which included a higher expectation for annual revenue growth, particularly from sales of AI chips. This projection has boosted investor confidence and caused a surge in U.S. chip stocks.

However, the industry also faced some turbulence after ASML (AS:ASML), a leading equipment manufacturer for the semiconductor industry, reported a weaker-than-expected orders outlook. This news had a significant impact on the global chip sector, causing a stir in stock prices. ASML's announcement led to a decline in its share value and also affected other major players in the semiconductor industry, including Nvidia and AMD (NASDAQ:AMD).

Despite the challenges, TSMC continues to expand its manufacturing capabilities, with billions being invested in new factories, including $65 billion for three facilities in Arizona. The company also revised its capital expenditure budget to between $30 billion and $32 billion, an increase from the previously estimated range of $28 billion to $32 billion. These recent developments reflect the dynamic and rapidly evolving nature of the semiconductor industry.

InvestingPro Insights

Nvidia's remarkable stock performance is further supported by recent data from InvestingPro. The company's market capitalization has soared to an impressive $3.45 trillion, solidifying its position as a major player in the tech industry. Nvidia's financial health is robust, with a revenue of $96.31 billion over the last twelve months as of Q2 2025, representing a staggering year-over-year growth of 194.69%.

InvestingPro Tips highlight Nvidia's strong market position and financial performance. The company boasts impressive gross profit margins, which stand at 75.98% for the last twelve months. This high profitability is a key factor in Nvidia's ability to invest in research and development, fueling its innovation in GPUs and AI technologies.

Another InvestingPro Tip notes that Nvidia is trading near its 52-week high, currently at 96.42% of that peak. This aligns with the article's mention of the stock reaching an all-time high, reflecting strong investor confidence in the company's future prospects.

For investors seeking a deeper understanding of Nvidia's potential, InvestingPro offers 23 additional tips, providing a comprehensive analysis of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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