#9 - Nvidia (NASDAQ:NVDA)
It might seem crazy to include a semiconductor stock in a list of tech companies to thrive in these conditions. But Nvidia (NASDAQ:NVDA) has been waiting for this moment. 2020 is bringing new gaming consoles to the market.
Remember that Nvidia is going to benefit from expected demand. And that demand is likely to increase as more consumers stay at home. Like Etsy, this may be a short-term opportunity. The semiconductor space is notoriously cyclical. Still, investors that are willing to jump on short-term opportunities could see a nice reward.
For example, Bank of America analyst Vivek Arya just reiterated his buy rating for NVDA stock and gave it a price target of $300.That would be an increase of more than 15% from current levels.
Plus, Nvidia is seeing a fair amount of sales coming from its data center business. As companies like Amazon and Domino’s (DPZ) continue to have an insatiable demand for capturing consumer data to make decisions.
About NVIDIA
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
Read More - Current Price
- $141.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (15.6% Upside)
