Making sense of the markets this week: November 24, 2024 Nov 22nd

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Making sense of the markets this week: November 24, 2024Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.

Can’t stop the Nvidia train

Nvidia is now the world’s largest company. You know it’s growing quickly when there are massive Super Bowl-level parties for its quarterly earnings calls. It seems that no matter how high expectations get for the stock, the unprecedented growth of profits just continues to clear the projected earnings bar. At this point, I’m not sure anything can stop the chip-making super conglomerate.

Nvidia earnings highlights
All numbers are in U.S. dollars.

Nvidia (NVDA/NASDAQ): Earnings per share came in at $0.81 (versus $0.75 predicted), while revenues totalled $35.08 billion (versus $33.16 billion predicted).

While share prices were down about 2% in after-hours trading on Wednesday, they’re still up more than 200% in 2024. It seems the tech industry just can’t get enough of Nvidia’s one-of-a-kind semiconductor chips…

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