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Nvidia boosts buyback to over $150B
Nvidia has increased its authorized share repurchase plan to a record $150 billion, surpassing Apple's $110 billion program, bringing the total repurchase capacity to $235 billion until 2028. The market responded positively to the announcement, with the company's stock rising by more than 3%, and gains exceeding 20% since the beginning of the year, driven by the rising demand for AI processors. The new plan comes at a time when Nvidia's stock is trading at a forward P/E ratio of 16.5 times, the lowest since 2015 and below its average of 30 times, reflecting some concerns about a slowdown in earnings growth. The CEO confirmed that as of the end of Q3, the company's cash reserves totaled approximately $22.44 billion, and that the authorization enhances the company's ability to invest in future technologies and pay dividends to shareholders, with projected revenue growth of 70% by 2028.
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