How to assign Ajax success value to a variable in JavaScript

Question

I have this JS code :

  $(function () {



        var newdata2;

        $("form").submit(function (event) {
            event.preventDefault();
            $.ajax({
                type: 'POST',
                url: "/MyController/Action1",
               data: { nameid: $('#nameid').val() },
               success: function (newdata) {

                   newdata2 = JSON.parse(newdata);
                   //doing other stuff...

When I call console.log(newdata) after this form.submit block, I get undefined. How can I get the value of newdata out of that block? Thanks in advance.