#2 - NVIDIA (NASDAQ:NVDA)
Due to its role in building out artificial intelligence (AI) infrastructure, NVIDIA Corp. (NASDAQ: NVDA) has become one of the most followed stocks in the technology sector. However, before its graphic processing units (GPUs) were placed in data centers, the company was a picks-and-shovels play in the esports sector.
Like many sectors, AI has its own distinct language and culture, and NVIDIA’s product offerings are an ideal fit. For example, the company’s GeForce RTX GPUs and devices that help provide gamers with the maximum frame rates for exceptional responsiveness and image quality. NVIDIA's products are consistently labeled as among the best in the industry.
In the company’s Q3 2024 earnings report, NVIDIA’s gaming business generated approximately $3.2 billion in revenue, up 15% year-over-year and accounting for about 10% of the company’s total revenue.
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.
More about NVIDIA- Current Price
- $101.33
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 38 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $165.51 (63.3% Upside)
