In August, I started trading with a position in Nvidia: 10 shares totaling $4,633.70 in stock. $356.30 in cash was maintained equaling a grand total of $5,000. In November, we traded Adobe Inc. In December, we traded Intel Corporation (INTC). We stayed with Intel through January. On January 31, the Intel shares were sold for $4,913.36. On January 31st and February 2nd, 28 shares of AMD were purchased for an average price of $174.27 with $83.65 left in change. We stayed with AMD through March. At the end of March, we sold AMD for $180.56.
On April 1, I bought 5 shares of NVDA for $899.38 leaving $642.39 in change. Today, NVDA closed at $1,096.33. Combined with the change, the portfolio is now worth $6,124.04. So the strategy has returned 22.5 percent in the last ten months.
The benchmark S&P 500 exchange-traded index fund, SPY, has returned 16.7 percent over the same period.
Nvidia is on Fire
Up 134.4 percent over the last six months, Nvidia continues to be the top performing stock in the S&P 100 index. General Electric Company (GE) is a distant second with 68.9 percent. In 2023, Nvidia’s earnings exploded and we’re expecting them to grow by another 60 percent this year as Amazon, Facebook, Microsoft, Google and others gobble up their expensive chips in order to improve their cloud data centers. Other financial observers, like Stock Analysis expect their earnings to more than double this year.
Investment in artificial intelligence programs by the mega tech companies and investment in technology overall by companies continues, making this an exciting time for tech and tech investors. Check back in one month for an update.
Nvidia’s Endeavor Building in Santa Clara, California.
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