Should You Buy the Dip in NVIDIA? By StockNews – Investing.com

Should You Buy the Dip in NVIDIA? By StockNews – Investing.com

Chipmaker NVIDIA Corporation (NASDAQ:) has attracted substantial retail investor attention following its impressive third-quarter earnings report. But despite its promising long-term growth prospects, the stock has declined slightly in price over the past five days due to surging market volatility. So, is now a good time to invest in NVDA? Read more to find out.NVIDIA Corporation (NVDA) in Santa Clara, Calif., is a visual and artificial intelligence computing company and semiconductor manufacturer. It is the ninth-largest semiconductor manufacturer globally, with a $752.53 billion market cap.

The company has been capitalizing on the current semiconductor shortage over the past year, as evidenced by its impressive financials and profit margins. Its trailing-12-month revenues and EPS increased 64.3% and 52.7% respectively year-over-year. And for its fiscal 2022 third quarter, ended October 31, 2021, NVDA’s revenues increased 50% year-over-year to a record $7.10 billion. Its non-GAAP operating income came in at $3.39 billion, up 70% from the same period last year, and its non-GAAP net income improved 62% from the prior-year quarter to $2.97 billion. Its non-GAAP EPS rose 60% from the year-ago value to $1.17, beating the Street’s estimate by 5.4%.