#1 - Nvidia (NASDAQ:NVDA)
Nvidia (NASDAQ:NVDA) was already having a good year as Americans were forced to shelter in place. Left to their own devices, many Americans turned to video games. And as video game demand increased (look at the numbers for the Nintendo Switch), manufacturers like Nvidia make the chips that help power these devices. r
Plus, the company's signature graphic processing units (GPUs) will have new applications centered around 5G technology. These will include advances in artificial intelligence, robotics, and autonomous vehicles.
But Nvidia is getting another catalyst. The work-from-home movement is looking like it may be more permanent than previously thought. Already companies such as Facebook (NASDAQ:FB) and Twitter (NASDAQ:TWTR) are announcing that many of their employees can work from home indefinitely. In a survey done by the research firm Gartner, about 25% of those surveyed expect 10% of employees to continue to work at home, and 2% of those surveyed predicted that more than 50% of their employees might be permanently working from home after the pandemic subsides.
And this means that companies will be looking to provide their employees with computers that can handle the demands of working from home.
Nvidia is also branching out into other areas such as cloud computing and cryptocurrency. On the companies most recent earnings call, CEO Jensen Huang said, “the notion of accelerating deep learning and machine learning using our GPUs is now common sense…today data centers all over the world expect a very significant part of their data center being accelerated with GPUs.”Q
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
- $134.70
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (21.9% Upside)
