#1 - NVIDIA (NASDAQ:NVDA)
NVIDIA (NASDAQ: NVDA) - No industry sums up the volatility of the tech sector more than the semiconductor industry. Nvidia’s stock saw a nearly three-year surge that saw it rise nearly 800% come crashing down at the end of 2018. However, the stock is bouncing back. Shares of NVDA are up nearly 22% for the year and just over 12% since March 8. Some of the reason for the stock’s slump was due to the cryptocurrency meltdown, but the extent of the stock’s crash showed a fundamental misunderstanding of the company’s product offerings. The graphic processors that the company designs, while essential for crypto-miners, are far more in demand for video games and datacenters – which include applications for artificial intelligence (AI). Currently, AI applications account for about 25% of Nvidia’s business. That’s where the news gets particularly enticing for investors. At the GTC 2019 conference on March 18, Nvidia CEO Jensen Huang announced the company’s partnership with Toyota Motors. In a nutshell, Nvidia through its DRIVE Constellation simulator is going to provide the technology that will allow Toyota to create virtual simulations which can lead to a rapid acceleration of the company’s testing capabilities while helping to cut costs, increase safety and improve efficiency.
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
- $144.39
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $160.23 (11.0% Upside)
