#1 - Nvidia (NASDAQ:NVDA)
Not surprisingly, Nvidia Corporation (NASDAQ: NVDA) is one of the top stocks being discussed on WallStreetBets. When a stock is up 277% in the last 12 months, as NVDA stock is, it's going to be a target for short sellers.
Short interest in Nvidia is only about 1% of the float, which is negligible for a stock with 2.5 billion outstanding shares. However, short interest has been climbing in 2024 and has reached its highest level in at least two years.
The question on many investors' minds is how high NVDA can go? Much of that answer will depend on the broader economy. Nvidia is the leader in the needed AI chips as companies deploy more AI applications. That's not going to change, but corporate capital expenditure (capex) spending may come under closer scrutiny, particularly if the Federal Reserve chooses to stand pat on interest rates.
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)
