#4 - Nvidia (NASDAQ:NVDA)
For AI to do what it does requires hardware, and that’s where Nvidia Corporation (NASDAQ: NVDA) comes in. Nvidia manufactures the artificial intelligence chips that are essential in this market. The company is well-rooted in the data center sector. But they’re also working closely with both Microsoft and Alphabet.
The stock is down a whopping 82% in the last 12 months, which is related to the weakness in the broader economy. And the company is part of the semiconductor industry, a notoriously cyclical industry that is still trying to get back to its pandemic-fueled growth.
Investors may not see that growth in 2023, at least not in the first half. Analysts expect the company to post double-digit year-over-year losses in revenue and earnings in Q4 2022 earnings. But as a long-term investment in the AI sector, NVDA stock looks like a sound bet.
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.
More about NVIDIA- Current Price
- $114.50
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 38 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $164.96 (44.1% Upside)
