Are you looking to invest in a company that is making waves in the stock market? Look no further than Nvidia. According to BTIG strategist Jonathan Krinsky, Nvidia is breaking new ground in stock chart analysis, surpassing even the dot-com bubble era companies. In fact, Nvidia has pulled further ahead of its 200-day moving average than any other leading U.S. company in at least three decades.
This is a remarkable feat considering the impressive companies that have come before it. For example, in March of 2000, Cisco briefly passed Microsoft in market cap during the dot-com bubble. Nvidia achieved a similar milestone last week, demonstrating its strong position in the market.
What is driving Nvidia’s impressive performance? Bulls point to the company’s rapid revenue growth, healthy cash flow, and profits. Despite a Friday slump, shares of Nvidia are up over 150% year to date, with a market cap exceeding $3 trillion. However, the size of the company and the speed of its move have made some Wall Street professionals wary.
While the fundamentals of Nvidia may be different this time around, it’s worth noting that in the last five years, Nvidia has seen a staggering +4,280% gain compared to Cisco’s +4,460% gain in the five years leading up to its peak. This data underscores the remarkable performance of Nvidia and its potential for continued growth.
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