These comparisons seem to indicate that there is room for further upside in NVDA shares. The industry has a much lower median value, although it is currently trading closer to its 52-week high. Significantly, its median value of 94.3% is higher than the S&P 500’s 91.6% although both NVDA and the S&P 500 are currently trading considerably higher than their median levels. Over the past year, the S&P 500 has gained steadily to trade close to its 52-week high, but NVIDIA shares have been far more volatile. The S&P 500 has however has grown much slower, at 1.9%. The share price has increased 8.7% over the past month compared to the industry’s 13.6%.
But is the stock a buy at these levels? Let’s find out: Investors responded to the news by sending share prices up 3.2% in extended trading.
Guidance was also encouraging with revenue expectations of $2.65 billion for the January quarter bettering the Zacks Consensus Estimate of $2.44 billion. The emerging Professional Visualization segment grew 15%, as VR adoption at defense and automotive customers increased and demand for high-end real-time rendering, simulation and more powerful mobile workstations and grew.Ĭoming off the strong results, management raised the quarterly dividend and promised to return $1.25 billion in 2019 through dividends and share repurchases. The Data Center segment, which accounts for most of the balance, saw the strongest growth of 109%, testimony to NVIDIA’s growing position at cloud service providers and prowess in high performance computing (HPC). Management also called out strength in the Nintendo Switch console and cryptocurrencies as drivers. The Gaming segment that contributes more than two-thirds of its total volume, grew 25%, as the company saw strength across regions and form factors. Both numbers were up strong double-digits from the same quarter last year.
Yesterday, after the bell, NVIDIA Corp ( NVDA Quick Quote NVDA - Free Report) announced solid results, topping the Zacks Consensus Estimate by 11.9% on the top line and 41.5% on the bottom line.
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