Nvidia Corp has become one of the most sought after stock on Wall Street after its shares skyrocketed, owed to the anticipation built around its quarterly reports. With its stock climbing nearly 2.5 percent on Wednesday, Nvidia Corp became the third most valued company in the world.
In terms of market valuation, Nvidia Corp only stands behind Apple and Microsoft. With its growing market cap, Nvidia surpassed both Google-parent Alphabet and Jeff Bezos’ Amazon this week with its value.
On Wednesday, Nvidia Corp stock rose 2.46%, putting its value at $1.825 trillion. Nvidia controls about 80% of the high-end AI chip market, a position that has boosted its stock price 47% this year after it more than tripled in 2023.
The quarterly results of the AI chipmaker will be out on Wednesday, February 21, and it is expected to show a significant increase in net profits, boosting up the share prices and market value once again next week.
Investors from across the world are seeing Nvidia as a lucrative opportunity to grow their portfolio. While Nvidia is listed in the United States, an investor from India can still buy its stock.
How to buy Nvidia stock in India?
Nvidia is listed on the NASDAQ index in the United Stated under NVDA symbol. For Indian investors to buy Nvidia stock, they need to open an international trading account. This can be done through multiple online platforms like Groww, Angel One, etc.
You will need to upload your bank account details and KYC documents to open an international trading account. Indian residents can also open an overseas account through an Indian brokerage that have international tie-ups like ICICI Direct, HDFC Securities, Kotak Securities, and Axis Securities etc.
One can also buy Nvidia stock by opening an account directly on an international brokerage platform like Charles Schwab, Ameritrade, Interactive Brokers, etc.
Nvidia quarterly report projections
Nvidia is expected to see a significant bump in stock prices after its quarterly reports are out next week. Analysts expect another blowout quarter and outlook, and anything less could deflate Wall Street’s AI rally, some investors warned.
Analysts, on average, see Nvidia’s January fiscal quarter revenue more than tripling to $20.37 billion, fueled by demand for its top-shelf AI chips, according to LSEG data. Analysts see its adjusted net profit surging over 400% to $11.38 billion.
It is expected that Nvidia share prices can go up to $850 apiece after its quarterly reports are released.
(With inputs from Reuters)