#7 - Nvidia (NASDAQ:NVDA)
With several quality semiconductor stocks to choose from, Nvidia (NASDAQ:NVDA) falls in the top 20 of popular Robinhood stocks.
Semiconductor stocks have been some of the hottest stocks in 2020 and with good reason. The 5G revolution has finally arrived and companies like Nvidia have played a significant roll in the buildout of the 5G infrastructure. But that’s not the only reason. Semiconductor stocks are enjoying a perfect storm that is coming from the continued growth of data centers as well as the new hardware cycle in gaming consoles. And although Nvidia doesn’t benefit from all of these segments equally it’s been a solid performer.
The stock is up 108% on the year and that’s despite the September selloff that has knocked the stock down over 12%. As I mentioned, it’s been a perfect storm of catalysts for this notoriously cyclical market segment. So in no way should Robinhood investors expect this kind of performance every year. However, those investors that have been buying NVDA stock have reason to cheer both now and most likely into 2021.
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
- $141.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 40 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $164.15 (15.6% Upside)
