#1 - NVIDIA (NASDAQ:NVDA)
As the leader in generative AI chips, NVIDIA Corporation (NASDAQ: NVDA) is an obvious choice for this list. NVIDIA is estimated to have over 85% market share in the coveted data center market. As the company noted in its first quarter 2024 earnings report, it simply can’t make chips fast enough to keep up with demand.
And NVIDIA is not resting on its laurels. The company has already launched its H200 generative AI chip as part of its HGX AI supercomputing platform.
On June 10, 2024, NVDA shares began trading at their split-adjusted price. And it didn’t take analysts long to start bidding the stock higher. The NVIDIA forecasts on MarketBeat show that, as of June 12, 2024, at least four analysts have raised their price targets, with the lowest being $135 and the highest being $150.
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
- $135.34
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (21.3% Upside)
