• Nvidia #NVDA an expensive P/S ratio, but a reasonable P/E given its excellent profit margins.
• Generational AI growth is definitely not a panacea, but has started to gain traction as use cases expand beyond ChatGPT.
• Besides, higher performance computing is becoming a must have.
• Its Auto segment is doing extremely well, gaming rebounding, and data center still growing.
• Nvidia's new product innovation and exceptional R&D spend allow it to keep its pole position.
I had recommended NVIDA #NVDA at $116 in Oct 2022 as the best in its class -- on strong product innovations such as the new RTX gaming series, and the Hopper and the Grace in data center. Now, its price has more than doubled to $265, helped by the disinflation rally of January 2023, the expected growth from generational AI A100, AI chips that are being used for Microsoft (MSFT) and AI C3.ai, Inc. (AI) for ChatGPT and then better than expected Q1-FY24 guidance. Those factors from the October article are equally important today; and further growth from autos and AI will sustain the company for several years.
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