#4 - Nvidia (NASDAQ:NVDA)
The last of the chipmakers I’ve put on this list is Nvidia (NASDAQ:NVDA). This is a company that is having no problem meeting expectations. Nvidia just delivered an earnings report that saw it beat expectations for both revenue and earnings per share. INTC stock is up 77% in the last 12 months, but it has taken an 8% drop in the last month.
However, based on the company’s earnings report, this appears to be nothing more than Nvidia being caught up in the overall selloff going on with tech stocks.
The company benefited from the pandemic as the shift to working from home expanded demand for the company’s graphic processing units (GPUs). And being at home also stirred demand among gamers for GPUs that could deliver the speed and performance they needed. Early in 2021, the company is benefiting from renewed demand in cryptocurrency mining via its GPUs.
But where investors should really be paying attention is in Nvidia’s role in helping plan out “smart cities.” This is still an emerging sector of the IoT market, but it’s projected to take on much more significance in the coming years.
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
- $120.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 39 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $116.90 (3.3% Downside)
