#1 - NVIDIA (NASDAQ:NVDA)
NVIDIA Corp. (NASDAQ: NVDA) has been one of the companies benefiting the most from data center growth. The chip maker has the graphic processing unit (GPU) chips that are needed to handle the high-speed requirements of AI applications.
The company has a massive lead in market share that has allowed it to have ample pricing power. And even though the company announced a delay in its next-gen AI chip, Blackwell, it will still command a hefty chunk of the chip market. And that says nothing about the company’s foray into networking.
As of August 2024, NVDA stock is up 154% for the year. To this point, investors are willing to overlook the company’s lofty 51x forward earnings and 39x price-to-sales (P/S) ratio. Analysts continue to increase their price targets for NVDA stock, which suggests that they believe the company will continue to deliver earnings growth that justifies the stock’s lofty valuation.
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
- $138.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (18.2% Upside)
