Shares of Nvidia Corp. (NVDA, +2.13%) have continued their upward trajectory, surpassing previous records in premarket trading. The semiconductor and artificial intelligence company’s stock is on track to achieve its 11th consecutive gain, beating the previous record of 10 consecutive gains set in December 2016.
Impressive Recent Performance
Over the past 10 sessions, Nvidia’s stock has surged an impressive 21.8%, closing at a record $496.56 on Tuesday (NVDA, +2.13%). This remarkable performance is a testament to the company’s strength in the market.
Third-Quarter Results and Outlook
Investors are eagerly awaiting Nvidia’s third-quarter results, which are scheduled to be released on November 21st after the closing bell. With the stock’s remarkable performance, market watchers are interested to see if Nvidia can maintain its growth momentum.
Year-to-Date Success
Nvidia has been the best-performing stock in the S&P 500 this year, with a staggering 239.8% increase (NVDA, +2.13%). This puts Nvidia on track to achieve its best year since its record-breaking surge of 308.4% in 2001.
Comparatively, the PHLX Semiconductor Index (SOX, +3.62%) has seen a 45.6% increase year to date, while the S&P 500 (SPX, +1.91%) has advanced by 17.1%.
Investors remain enthusiastic about Nvidia’s continued success and the potential for further growth in the semiconductor and artificial intelligence sectors.