#4 - Nvidia (NASDAQ:NVDA)
If you haven’t been paying attention, you may have missed that Nvidia (NASDAQ: NVDA) is not the same company that you think it is. Many investors think of Nvidia as the company that makes the graphic processing units (GPUs) that power personal computers. And that makes those computers useful for gamers.
But the same high-powered graphics cards the company is known for are also helping the company move into AI and deep learning applications. In fact, Nvidia posted over $1 billion in revenue from its data center division in the first quarter of 2020. That was a year-over-year gain of over 80%.
Beyond data centers, the company is also partnering with automakers to claim a piece of the autonomous vehicle market.
NVDA stock is up over 60% in 2020 and that is despite the steep selloff that all tech stock suffered in March. The stock is outpacing its current 12-month price target. But with 30 buy ratings and 5 hold ratings out of 39 analysts that offer an opinion on the stock, you shouldn’t be afraid to get in NVDA stock.
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
- $138.73
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (18.3% Upside)
