What's more, consensus forecasts suggest that Nvidia could clock 20%-plus annual growth in its bottom line over the next five years.īut there are quite a few reasons to believe Nvidia could grow at a faster pace. It is expected to deliver impressive double-digit revenue growth once again next year. So the demand for semiconductors could remain healthy, as the latest results from the industry bellwethers indicate.Īlso, investors shouldn't forget that Nvidia has been delivering solid results quarter after quarter.Īnalysts expect the company to finish fiscal 2023 with a 24% increase in revenue to $33.3 billion.

On the other hand, semiconductor equipment manufacturer ASML Holding, which supplies its machines to the major chip foundries in the world, reported a massive increase in its backlog thanks to strong orders for its machines in the second quarter.

What's more, TSMC's forecast for both the short and the long run indicates that its terrific growth is here to stay. Earnings increased 67% over the prior-year period to $1.55 per share. The solid demand for chips used in the Internet of Things (IoT), automotive, and high-performance computing (HPC) markets helped the bellwether - popularly known as TSMC - increase its revenue by 36.6% over the prior-year period.

Is nvda a good stock to buy today