Published on 8 Apr 2024 on Insider Monkey via Yahoo Finance

Will Nvidia (NVDA) Continue its Dominance in AI?

Palm Valley Capital Management, an investment management firm, released the “Palm Valley Capital Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, Palm Valley Capital Fund increased 1.04% compared to 2.46% and 5.69% gains for the S&P SmallCap 600 Index and the Morningstar Small Cap Index, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Palm Valley Capital Fund featured stocks like NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2024 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On April 5, 2024, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $880.08 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was 2.60%, and its shares gained 219.11% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $2.2 trillion.

Palm Valley Capital Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its first quarter 2024 investor letter: